Wheat prices have again finished the week down

2019-02-18 12:02:19
Machine translation
Wheat prices have again finished the week down

on Friday the world prices of wheat exchanges fell to a new lows under the pressure of price reduction demand in physical markets.

 

For European tenders determining the outcome of the tender in Algeria, which purchased 600 thousand tons of French wheat at a price of $14/t lower than at the previous auction. Against the background of such rapid fall of the prices the speculators intensified selling.

 

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  • as a result, futures for milling wheat on MATIF in Paris fell by 3 €/t to 195,25 €/t or 220,48 $/t, which was the lowest since mid-November price.

 

American stock exchange on Friday continued Thursday's decline due to reduced demand and improved forecasts of the new crop in Russia.

 

Traders in the fight for buyers forced to reduce prices. So, the bid prices of Russian wheat for the week decreased by 10-12 $/t, while the fall in the price of European wheat on the background of low exchange rate of the Euro increases the competitiveness of American grain.

 

March wheat futures fell:

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1,84 $/t to 175,08 $/t for solid winter HRW wheat in Kansas city

0,64 $/t to 210,54 $/t on a firm spring HRS wheat in Minneapolis.

  • 1.01 $/t to 185,28 $/t for SRW soft winter-wheat in Chicago

 

In Australia, wheat prices decreased by 5-8 $/t to 265-270 $/t FOB due to low domestic demand and lack of interest from importers prefer cheaper wheat.

 

So, Korean MFG canceled a tender for the purchase of 65 thousand tons of feed wheat due to high prices of the proposals that are within 267-270 $/t CFR, hoping to receive more competitive bids to the current week.

 

Today, the United States celebrates Presidents ' Day, so the market will monitor the prices on European exchanges.

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