The week began with the collapse of market prices for wheat

2018-11-20 12:05:40
Machine translation
The week began with the collapse of market prices for wheat

Dramatic reduction of wheat exports major producing countries caused the collapse of stock prices.

 

  • December wheat futures in Paris fell by 3 €/t to 196,75 €/t or 225,23 $/t

 

So the market reacted to the decline in weekly wheat exports from the EU to a record low 83.3 per thousand tons as of November 18, the EU exported 6 million tonnes of soft wheat, which is 27% below the corresponding indicator 2017/18 MG.

 

Euro 1,145 to $/€ worsens prospects for exports of European wheat.

 

In the US, speculators began to take profits after the previous 2-day price increases.

 

wheat Exports from the U.S. last week increased by 47.2% to 509,1 thousand tons, twice last year's figure and significantly exceed expert expectations.

 

the Total wheat exports in the season amounted to 9.81 million tons while the USDA forecast at 27.9 million tons, whereas in 2017/18 MG it amounted to 24.5 million tons.

 

However, even a weaker dollar has not helped to improve export performance and to compete with black sea grain.

 

the December wheat futures on US exchanges declined:

3.12 $/t to 174,25 $/t for solid winter HRW wheat in Kansas city.

  • by 3.03 $/t to 183,16 $/t for SRW soft winter-wheat in Chicago

However, rose 0.09 $/t to 209,99 $/t hard spring HRS wheat in Minneapolis.

 

wheat Exports from Ukraine already totaled 8.4 million tons, which is 7.6% higher than last year's level. However, in comparison with previous week decreased by 77% to 153 thousand tons.

 

Export demand for wheat remains high, but the number of proposals to limit logistical problems and restarted the elevators corn.

 

Russia for a week have reduced wheat exports by 52% to 318 thousand tons, as predicted by experts. Pressure from state bodies and reduce inventory in the southern regions and in the future uplat export growth.

 

In the new season as of 16 November, the country exported 19.8 million tonnes of wheat, which is 29% higher than in 2017. Experts believe that in the end of December, the exports amount to 25 million tonnes, and will probably be imposed by its limitations. Although in the November report, the USDA forecast wheat exports from Russia to 2018/19 MG remained at the level of 35 million tons.

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