Wheat prices remain under pressure precipitation in the United States
the low volumes of trading and yesterday's recovery in wheat prices in Chicago have led to growth the may futures for milling wheat on MATIF at 0,25 €/t to 162,75 €/t (199,60 $/t).
the price of European wheat presses the sharp appreciation of the Euro.
Wednesday trading train of the American wheat was trading in a strong minus. Traders expect the improvement of the condition of winter wheat crops following recent heavy rain promised by the weathermen soon. At the end of a bidding exchange in Chicago thanks to the speculators could leave in small plus.
the May futures for U.S. wheat fell:
1.47 $/t to 216,51 $/t on a firm spring HRS wheat in Minneapolis.
- 1.65 $/MT to 171,04 $/t for solid winter HRW wheat in Kansas city
Increased by 0.18 $/t to 166.63 kop $/ton SRW soft winter-wheat in Chicago.
Experts Rabobank announced the forecast of wheat production in Russia in the 2018/19 season where reduced harvest in comparison to 2017/18 MG of 11.5 million tonnes to 73 million tonnes due to the big challenge reserves the export potential of wheat remains at the level of the current season.
Prices for Russian wheat with protein of 12.5% on FOB remains within 206-208 $/t, while the pace of exports continue to grow. As of March 21, compared to the same period of last year, Russia increased grain exports by 40% to 37.7 million tonnes, in particular, wheat exports by 43% to 29.4 million tons.
some experts believe it possible to increase grain exports from Russia to 50-53 million tonnes.