Wheat prices in Russia continue to grow, although the world fall
in the absence of fundamental factors supporting wheat prices yesterday, traders held speculative sales, which led to lower stock prices.
More on quotes crush precipitation is held in the regions to sow winter wheat in Ukraine and Russia.
the December U.S. wheat futures rose fell:
by 2.57 $/ton to 191,80 $/t for solid winter HRW wheat in Kansas city
1.19 $/ton to 213,48 $/t on a firm spring HRS wheat in Minneapolis.
- at 2.30 $/t to 191,34 $/t for SRW soft winter-wheat in Chicago
strengthening of the Euro to the level of 1,178 $/€ decreases the competitiveness of European wheat, demand for which remains very low.
- the December wheat futures in Paris fell by 2 €/t to 201 €/t or 236,44 $/t
According to preliminary estimates of the Ministry of agriculture of Germany (BMEL) in 2018 the production of grain in comparison with the previous year decreased by 16% to 34,477 million tonnes (excluding grain maize). In particular, the gross harvest of wheat will decrease by 18% to 20,143 million tonnes, which corresponds to the forecasts of other analysts.
In Russia the harvest and as of September 25, from 84.1% of the area produced 66 million tons of wheat with a yield of 2.96 t/ha versus 3.34 t/ha in 2017.
For the week, prices for Russian wheat with protein a 12.5% increase by 3-5 $/t to 220-225 $/t FOB Novorossiysk for delivery in October and 228-234 $/t for deliveries in November. Additional checks of the quality and complexity of the exports from the ports in recent times to boost the price of wheat in Russia.