In the US and the EU wheat prices continue to decline
the Decline that began on Friday on the U.S. wheat exchanges continued into Monday. Market participants pay more attention to the significant volume of global supply.
the Pace of sowing of spring wheat exceeded the expectations of experts. As of may 14 planted 78% of the planned areas, while the same period last year was 87% and the average for five years – 73%.
the Condition of the winter wheat crop continues to deteriorate. During the week the share of crops whose condition is assessed as good or excellent declined by 2% to 51%, which is 11% less than the same period last year.
the July wheat prices in the U.S. declined:
- in Chicago for 3.5 $/MT to 155.5 $/t for SRW soft winter-wheat,
- in Kansas city at $4/t to 157.4 $/t for solid winter HRW-wheat,
- in Minneapolis at 2.4 $/ton to 198,4 $/t on a firm spring HRS wheat.
FranceAgrimer Experts believe that the condition of wheat crops has improved due to recent precipitation. Now in good or excellent condition are 76% of the crop. Due to the strengthening of the Euro against the dollar and due to the good prospects of the harvest the price of wheat on Euronext fell by € 2/t to 167,5 EUR/t or 184,4 $/t
In Ukraine, purchasing prices for wheat are reduced due to low demand from traders and processors who buy raw materials only as needed, not creating reserves. Farmers complete the sowing and want to sell off the remnants of the old crop, but traders are not interested in the wheat harvest last year. Now they declare such prices for grain next harvest in Porto:
- 2 gr - 154 $/t,
- 3 gr - 150 $/t,
- feed - 145 $/MT for deliveries in July-August.