Wheat prices remain under the influence of contradictory factors

2019-01-08 12:09:40
Machine translation
Wheat prices remain under the influence of contradictory factors

Since the beginning of the year, the wheat market remains uncertain.


as a Result of stopping the work of the U.S. government, the main source of balances for grain – USDA January 11, will not publish its regular monthly report.


Traders estimate the acreage of wheat in the major exporting countries. If Russia increased the area under winter wheat, in the US they will be the least in the last 100 years. Experts of Informa (Vantage) evaluate them in 31,513 million acres vs 32,535 million acres last year.


prices of American agricultural products rose amid a recovery in Monday trade negotiations between the US and China. The news of the purchase of another batch of U.S. soybeans has raised the price of soy and was supported by the neighboring wheat market.


YTD March wheat futures in Chicago rose 3 percent to 190, 7 $/t


However, the low rate of exports limit the growth of prices for wheat in the United States.


According to released on Monday, according to USDA for the week, wheat exports from the U.S. decreased by 31.5% to of 260.1 thousand tons, this is much less than the average 5-year average.


Overall this season, the United States exported of 12.94 million tonnes of wheat. To reach the projected USDA the level of exports 27,22 million tonnes, the country needs weekly export not less than 682 thousand tons of wheat.


prices of European wheat yesterday fell to 1.75 €/t to 205,25 €/t or 234,97 $/t due to low exports and the strengthening of the Euro.


Last week, the European Union exported 171,2 thousand tons of wheat, and from the beginning of the season and 8.4 million tonnes, which is 25% below last year's level and 33% below three-year average.


to reach predicted by experts USDA standard export 24 million tonnes, the EU needed weekly export not less than 650 thousand tons of wheat.

Visitors’ comments (0):