Wheat prices rise after the oil market
amid a sharp rise in oil prices and ahead of a series of tenders for the purchase of wheat global wheat prices started the week with a growth.
the French wheat Market resumed its growth, which began last week, with the support of Chicago and the depreciation of the Euro, which increases the chances of France to win the tender in Algeria.
- December futures milling wheat on MATIF rose by 1.5 €/t to a three-week high 171,75 €/t or 189,04 $/t
the EU for a week reduced the export of wheat until 278,7 thousand tons, which is the minimum of the last 10 weeks. However, overall in the season exported 6.1 million tonnes of wheat, which is 34% higher than the corresponding figure 2018
the price of wheat in the United States yesterday dramatically increased as a result of speculative purchases and investors closing short positions.
the Market supported the increase in wheat exports for the week by 11.3% to 459,258 thousand tons, up 11.7% over the same period, 2018
Futures durum wheat grow on the data about rainfall caused by delay in the harvesting of spring wheat, which as of September 15, threshed by 76% of the area compared to 93% on average for 5 years.
the December wheat futures in the U.S.:
at 3.40 $/t to 150,28 $/t for solid winter HRW wheat in Kansas city
1.29 $/t to 187,02 $/t on a firm spring HRS wheat in Minneapolis.
- 1.93 $/t to 179,58 $/t for SRW soft winter-wheat in Chicago
the Ukraine for a week has sharply reduced exports of wheat from 1.3 million tonnes to 621 million tonnes because of falling export demand. Following the strengthening of the hryvnia purchasing prices continue to fall, so producers have reduced sales of wheat.
the Growth rate of the ruble and domestic wheat prices reduces the competitiveness of Russian wheat on world markets. Therefore, wheat exports from the country for a week has decreased from 1.08 million tonnes to 738 thousand tons.