Wheat prices remain dependent on demand
In the wheat market intensifies competition for customers and increased pressure from the neighboring corn market that is falling because of increased production forecasts.
After the abundant harvest of the Russian market captured cheap Argentine wheat, which replaced the French grain with a traditional North African market. However, it is likely in the coming weeks, grain exports from Argentina will be reduced, that will support prices in the French and velikobritansky wheat.
European wheat prices remain at the level of the cost, so farmers do not hurry to sell grain.
- December futures milling wheat on the Paris MATIF went up by 0,25 €/t to 159,75 €/t (187,81 $/t).
In Russia and Ukraine on FOB - ports of Black sea prices for wheat with protein of 12.5% down to the level 192-193 $/t, with protein 11.5% - up to 183-184 $/ton, fodder – up to 173-174 $/t
Introduction to India's 20% import duty on wheat will close market for Ukrainian and Russian grain.
Administrative court of Egypt on Tuesday declared invalid the decree of the government, which allowed the import of wheat with a content of ergot of 0.05%. Through the return requirements of the complete absence of ergot in the grain, number of grain in the country will decrease considerably.
Chicago on Tuesday partially played the previous fall due to speculators and the dollar continues to depreciate.
the December wheat futures in the U.S. rose in price:
0.18 $/t to 157,26 $/t for hard wheat HRW in Kansas city fell by 1.56 $/t to 231,11 $/t
- 1.38 $/t to 157,26 $/ton, soft wheat SRW in Chicago
Hard spring wheat HRS in Minneapolis has decreased by 1.56 $/t to 231,11 $/t