Wheat prices rose due to lower forecasts of export from Russia

2019-06-21 12:04:15
Machine translation
Wheat prices rose due to lower forecasts of export from Russia

the Decrease in the basic Russian Agency forecasts wheat exports from Russia to 2019/20 MG, due to the hot weather led to a rise in wheat prices on both sides of the Atlantic.

 

Experts IKAR has lowered the forecast of grain exports from Russia by 1.4 million tonnes to 46 million tonnes, including wheat – to 36.5 million tons. In SovEcon reduced the forecast of grain exports to 0.5 million tons to 48.9 million tons, including wheat – to 600 thousand tons to 37.6 million tons.

 

Wheat exchange in Paris on Thursday resumed growth after Chicago, with the support of the weather factor, because in the next two weeks in France will be dominated by hot weather with temperatures up to 30o. The growth of prices was limited by strengthening of the Euro.

 

  • September futures for milling wheat on MATIF rose by 1 €/t to 180 €/t or 203,51 $/t

 

After two days of speculative futures fall soft wheat in Chicago rose with the support of neighbouring markets of soybeans and corn. Promised for the weekend precipitation in Kansas amplify concerns about wheat quality, the collection of which is delayed rains.

 

the July wheat futures in the U.S.:

at 1.10 $/t to 169,20 $/t for solid winter HRW wheat in Kansas city.

  • 1.56 $/t to 193,45 $/t for SRW soft winter-wheat in Chicago

Fell 1.19 $/ton to 197,77 $/t hard spring HRS wheat in Minneapolis.

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