Wheat prices rose due to increased demand

amid the decline in world prices for wheat importers have stepped up purchases, which was confirmed by the tenders in Algeria, Egypt and Turkey.

Trading on the Paris stock exchange ended with a slight advantage thanks to the support of Chicago, which has updated its monthly maximum. The results of the tenders in Algeria, Egypt and Turkey and Tunisia declared the tender, has not significantly affected prices.

it is Expected that a large proportion of the purchased wheat by Algeria is French, but there is reason to believe that Algeria will significantly reduce the import of the new season, because now contractuels for November, and that means that in October there will be no supply.

Despite a competitive price on FOB, French wheat is losing the tender in Egypt because of the expensive freight.

According to the stock exchange Euronext, traders for the first time in 7 weeks increased the number of wheat contracts to a record level that indicates growth dynamics of wheat prices.

• December futures milling wheat on Euronext rose by 0.5 €/t up to 171,5 €/t or 189,19 $/t

the results of the tenders bid prices in Ukrainian and Russian wheat increased by 1-2 $/t to 186-188 $/t FOB for grain protein 12.5% and up to 184-185 $/t FOB with a protein of 11.5%.

prices of U.S. wheat on Wednesday rose due to speculative purchases and traders closing short positions. December wheat futures in Chicago rose to the highest since August 12 level.

Traders who were in the major importing countries, an indication of greater demand, so the expected weekly export sales of US wheat will be 300-600 thousand tons.

the December wheat futures in the U.S.:

by 2.75 $/ton to 150,55 $/t for solid winter HRW wheat in Kansas city

2.48 $/t to 188,58 $/t on a firm spring HRS wheat in Minneapolis.

• 1.93 $/t to 179,86 $/t for SRW soft winter-wheat in Chicago