The price of wheat has fallen because of the projected U.S. precipitation
Friday was the third consecutive trading day fall in U.S. wheat market. Under the impact of the April report USDA according to the forecast of a record global wheat stocks investors continue to hold a speculative sale.
the Main factor of pressure on prices remain predictable for the next 1-2 weeks precipitation in the regions of cultivation of winter wheat. Drought monitoring has not yet documented the improvement of the crops, but rainfall will be able to recover almost not viable plants.
the Total exports of US wheat in the current season is 15.4% lower than in 2017, which increases the pessimism of traders, especially against the background of increasing Agency IKAR forecast of wheat exports from Russia to 39.5 million tons.
the May futures for U.S. wheat fell:
4.32 $/t to 182,15 $/t for solid winter HRW wheat in Kansas city
2.21 $/ton to 226,70 $/t on a firm spring HRS wheat in Minneapolis.
- 3.12 $/t to 173,61 $/t for SRW soft winter-wheat in Chicago
the French wheat cheaper 4 days in a row even though a decrease in experts FranceAgriMer estimates of ending stocks of wheat in France.
- Friday may futures milling wheat on MATIF fell by 0.75 €/t to 164,75 €/t (202,55 $/t).
In good and excellent condition, France's 78% of the winter wheat crop, which is 1 point better than the average 4-year average. The number of durum wheat sowings are in good and excellent condition fell by 1% to 78%, which is 1% higher than the average 4-year rate.