Wheat prices in anticipation of new factors
the Egyptian State Agency at today's tender of GASC plans to purchase not less than 55-60 thousand tons of soft milling wheat with delivery 5-15 November. Market participants observe the behavior of traders who have ignored the previous auction because of a problem with the presence of poppy seeds in batches of Romanian and French wheat.
Romanian wheat is unloaded from additional cleaning, and the fate of French grains remains uncertain.
the Market for U.S. wheat on Monday continued to fall. He remains under the influence of Friday's report USDA in which the production forecast all wheat exceed expert estimates of 1.3%, and in particular, spring – 8.9%.
Own evaluation of the production of spring wheat USDA increased by 3.5%, which led to a more tangible drop in prices of HRS wheat in Minneapolis relative to other stock markets.
December quotations of wheat in the U.S. declined:
- soft wheat SRW in Chicago by 1.29 $/t to 163,41 $/t,
- for hard wheat HRW in Kansas city by 1.29 $/t to 161,39 $/t,
- hard spring wheat HRS in Minneapolis at 4.50 $/t to 224,68 $/t
Under pressure from Chicago continues the reduction in prices of French wheat, which was slightly limited by the weakening of the Euro as a result of the Catalan referendum.
- December futures milling wheat on MATIF fell by 0,50 €/t to is 165.5 €/t (194,38 $/t).