In Ukraine, the prices of wheat of the new crop exceeded the prices of the old crop

2021-06-03 12:01:10
Machine translation
In Ukraine, the prices of wheat of the new crop exceeded the prices of the old crop

Concerns about the fate of the future crop caused by unfavorable weather in the United States and Canada increase the volatility of wheat prices on world stock exchanges, although low demand puts pressure on prices in the physical market.

 

Purchase prices for wheat in Ukraine, following the world prices, increased to 2 238-240/ton for deliveries to the port in June, which is equivalent to F 250/ton FOB.  

 

At the same time, Black Sea wheat futures on the Chicago Stock Exchange rose again:

  • July-by 3 3.5 / ton to 2 265.5 / ton,
  • August-by 1 1.5 / ton to 2 263 / ton,
  • December-by 1 1.5/ton to.271 / ton.

 

Offer prices for Black Sea wheat of the new crop increased to 2 260-265/ton FOB, which corresponds to the level of prices for European wheat, which is offered for delivery in July at.260/ton FOB.

 

On US stock exchanges, quotes fell yesterday, as traders recorded profits after a jump in prices the day before.

 

Spring durum wheat in Minneapolis reached its highest level since July 2017, as due to hot and dry weather, the number of spring wheat crops in the United States in good or excellent condition for the week decreased from 45% to 43%, although last year it was 80%.

 

July US futures fell:

  • by 2 2.20 / ton to Чикаго 252.61/ton for soft winter SRW wheat in Chicago,
  • by 1 1.38/ton to.232.86 / ton for hard winter HRW wheat in Kansas City.

Hard spring HRS wheat rose in price by 4 4.23/ton to.287.70/ton in Minneapolis.

 

Prices for French wheat after a speculative rally on Tuesday and an update to a two-week high, also fell yesterday amid traders fixing profits. Quotes are under pressure from the improvement of weather forecasts for June in the EU countries.

 

  • September wheat flour futures for MATIF fell by €3.75/ton to €215/ton or € 262.56 / ton.

 

On the Euronext exchange, the net long position on food wheat decreased by 38% to 60,757 contracts, the lowest level since September.

 

EU countries (excluding the UK) exported 296.8 thousand tons of soft wheat for the week, and in general in the season as of May 30 – 24.459 million tons, which is 25.2% lower than the corresponding indicator of 2019/20 MG. The main importer of European soft wheat, as in the previous season, remains Algeria, which for the year increased the volume of purchases from 5.24 to 5.474 million tons. at the same time, China reduced imports of European wheat compared to the previous season from 2.005 to 1.767 million tons.

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