Wheat prices rise after the corn market

2019-10-02 12:31:52
Machine translation
Wheat prices rise after the corn market

a Sharp decline in corn stocks in the U.S. at the beginning of the season (1st September) from 62,1 to 53.6 million tonnes shocked the market and led to a spike in prices. Traders expect the October report USDA to understand, wrong experts in the prediction of production or consumption of maize in 2018/19 Mr.

 

the Growth of prices for corn and soy (after the purchase by China of 2 million tons of soybeans in the United States) supported the quotations of wheat in Chicago. Prices for hard wheat has declined due to forecasts of warm and dry weather in Canada and the Northern United States, where rainfall delayed harvest of spring wheat.

 

the December wheat futures in the U.S. had the following dynamics:

the

1.29 $/t to 151,20 $/t cheaper solid winter HRW wheat in Kansas city

4.23 $/t to 195,84 $/t cheaper solid spring HRS wheat in Minneapolis.

  • at 1.10 $/t to 183,26 $/ton rose soft winter SRW wheat in Chicago

 

amid rising prices of Egyptian GASC today will hold another tender for purchase of wheat, which will determine the future price trends.

 

the

  • the December wheat futures in Paris yesterday rose 0.5 €/t up to 175,25 €/t or to 191.6 $/t

 

Recovery of the Euro against the dollar to 1,093 $/€ lowered the competitiveness of European wheat, but it is still cheaper than the black sea.

 

the Russian wheat protein 12,5% offer to supply in October-November 195-196 $/t FOB, while the bid price is 190 $/MT FOB.

 

Ukrainian wheat with protein 11.5% from delivery in October-November offer at 190-192 $/t FOB, the European protein 11% - at 187-189 $/t FOB, Polish with protein 12,5% - at 170-171 €/t or 186,5 $/t FOB, Baltic – at 172 and 173 €/t 189 or $/t FOB.

 

Due to the low cost of freight for Ukrainian and Russian wheat has an advantage on the markets of North Africa and the Middle East.

 

Refiners are stepping up purchases durum wheat on the background of the problems with the harvest. The Taiwan Association of flour millers purchased 110,3 thousand tons of wheat from the United States, in particular:

the

38,85 thousand MT of hard winter wheat with a protein 12.5% price 239,95 $/t FOB, which is 8% higher than 7 weeks ago

15 thousand MT of soft winter wheat at a price 233,67 $/t FOB, which is 3% higher than 7 weeks ago.

  • of 56.45 thousand MT of hard red spring wheat with a protein 14.5%, and delivery in November-December at a price 281,07 $/MT FOB PNW, which for 7 weeks increased by 25%

 

Turkish state Agency TMO has purchased the tender 8 thousand MT of hard wheat for delivery October 8 – November 8 302,9 price $/t CIF to Mersin.

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