In anticipation of the USDA report, wheat prices declined slightly
in anticipation of the release of balances USDA traders trade very carefully and in a hurry to take profits after a jump in prices on Monday caused by the news from Australia, what the price of wheat in the US and the EU declined slightly.
Quotes European wheat maintains moisture deficit for crops of winter crops for next year's crop in the EU and Russia. France has lowered the forecast of wheat production still by 0.56 million tonnes to 34,55 million tonnes, down from 36.7 million tons in 2017.
- But it didn't help to keep wheat prices on Euronext, which yesterday fell by 0,75 €/t to 201,25 €/t or 233,2 $/t
Ministry of agriculture of Russia reported that in the current season grain exports will not exceed 30 million tons, this means that wheat will be exported no more than 25 million t. Since for 2 months has already sold almost 10 million tons, we can assume that in the second half of the season, a major supplier of wheat on the world market is the United States, where the good weather contributes to the increase of productivity of spring wheat and sowing of winter crops.
December futures U.S. wheat fell:
by 2.94 $/t to 192,07 $/t for solid winter HRW wheat in Kansas city
1.75 $/t to 211,36 $/t on a firm spring HRS wheat in Minneapolis.
- 3.49 $/t to 190,60 $/t for SRW soft winter-wheat in Chicago
amid the decline in world wheat prices of two major importers are Algeria and Egypt announced the tender for the purchase of wheat for delivery in October-November.