Wheat prices increased due to potential export restrictions from Ukraine
Yesterday, the Deputy Minister of agriculture of Ukraine announced on the social network about the intention to sign in the near future with traders annual Memorandum on the restriction of exports of wheat.
Within hours after the appearance of this information the wheat prices in Chicago rose by 4.7%, however, after verifying returned to the initial level, updating the maximum price in July 2015.
the September wheat futures in the U.S.:
2.02 $/t to 209,16 $/t for solid winter HRW wheat in Kansas city
0,92 $/t to 224,32 $/t on a firm spring HRS wheat in Minneapolis.
- 0.83 $/t to 205,95 $/t for SRW soft winter-wheat in Chicago
Active tender for procurement of wheat the major importers for the decline during the week of the Euro, with up to 1,174 1,159 €/$ stimulate exports of European grain.
- September futures milling wheat in Paris rose by 5.5 €/t to 212,75 €/t or 246,6 $/t
Recall that at the last tender, Egypt bought one cargo of Romanian wheat and 180 thousand tons of Russian at the price 253,31 $/t CFR Algeria – 360 KMT of French wheat at a price of 270 $/t CFR, Jordan – 60 KMT of Romanian wheat at the price 267 $/t CFR.
Due to higher prices, Russia increased its wheat exports in July 2018 2.4% to 3.8 million tons.
In Russia with 40% of the area harvested 39.5 million tonnes of winter and spring wheat with a yield of 3.64 t/ha vs. 4.3 t/ha in 2017. According to the Center for grain quality assessment, nearly 20% of the tested 8 million tons of grain is wheat protein 12,5%, about 55% protein 10.5 per cent.