Wheat prices in the EU fall, grow in the US

2019-07-08 12:13:14
Machine translation
Wheat prices in the EU fall, grow in the US

Good weather conditions in the US and Europe contribute to the production of an abundant crop of wheat that continues to put pressure on the stock market.

 

  • Futures on milling wheat in Paris on Friday fell 1.25 €/t to 178,25 €/t or 200,18 $/ton, despite factors such as the depreciation of the Euro against the dollar, the results of the tenders in Algeria and Tunisia, and a reduction in the number of winter wheat crops in France, which are in good or excellent condition, up 5% up to 75%.

 

the Algerian Agency OAIC has purchased the tender of 360 thousand tonnes of French milling wheat with delivery in August at a price 217-217,5 $/t CIF, which is the cost of freight is 16.5 $/t corresponds to the sale price of $200/ton, slightly lower than prices in the French market.

 

the wheat Market in the United States on Friday, resumed trading after a public holiday. Thanks to speculators, and with the support of the neighboring corn market steadies soft wheat in Chicago.

 

wheat Exports from the U.S. for the week made up 276,5 thousand tons, which is within the expert's expectations 250-550 thousand tons.

 

Traders expect the new balance of grain from the USDA, which will be released on July 11.

 

the July wheat futures in the U.S.:

at 1.10 $/t to 161,30 $/t for solid winter HRW wheat in Kansas city.

  • 0.46 $/t to 190,79 $/t for SRW soft winter-wheat in Chicago

Decreased by 2,30 $/t to 196,30 $/t hard spring HRS wheat in Minneapolis.

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