Tender in Egypt has further reduced the price of wheat

Thanks to strong sales to traders who do not hope for a revival of us exports of wheat, on Wednesday, the March futures for the soft wheat in Chicago fell to an annual minimum, with only the beginning of the week lost 10%.

the Decrease in purchase prices in the Egyptian tender of $8/t compared to the auction, which took place 12 days ago, puts pressure on world prices. Yesterday, the us wheat tender participation was not involved, although the last time she shared the victory with the French.

did Not support the price decrease of the forecast of acreage under wheat in the United States in 2019 to 47,195 million acres that will be on 604 thousand acres less than last year. Friday will be released the USDA report with a forecast of the acreage that is also a significant impact on markets.

the March wheat futures fell:

3,95 $/t to 165,34 $/t for solid winter HRW wheat in Kansas city

2.48 $/t to 201,63 $/t on a firm spring HRS wheat in Minneapolis.

• 3.31 $/t to 176,64 $/t for SRW soft winter-wheat in Chicago

Egypt purchased in the tender 180 KMT of French wheat, which won only by reducing prices by $10/MT compared to the previous auction that continues to put pressure on prices.

• wheat Futures in Paris fell another 1.5 €/t to 192,75 €/t or 218,7 $/t

GASC Yesterday bought the 360 thousand tons of wheat at an average price of 252,28 $/t CFR, which is $8/t lower than at the previous tender. In particular, it was bought:

in the company ADM 60 thousand tons of Russian wheat for 238 $/t FOB, 60 thousand tons of Romanian for 238,16 $/t FOB,

in the company of Dreyfus 60 thousand tons of Ukrainian wheat at 237,5 $/t FOB.

• the company Soufflet and Lecureur 180 KMT of French wheat at 234,50 $/t FOB,

On the physical markets, the prices of Ukrainian and Russian wheat are sharply reduced.

the Russian wheat protein 12,5% offer for 238 $/t FOB, with a protein of 11.5% 231-232 $/t FOB, which is 6-8 $/t lower than the level of last week.