The wheat harvest in Argentina provokes a further decrease in prices
a Record wheat crop at 18.3 million tons, Argentina collected during the current season would provide significant domestic demand of 6 million tons, and exports, which could grow to 11.3 million tons.
the winter Market of American wheat on Thursday continued to fall. Within 4 days of futures soft wheat in Chicago has depreciated 5.6 $/ton.
the market is pressured news about rainfall in regions where they grow wheat. And even weekly export sales at the level of 418 thousand tons were unable to support prices.
May the wheat prices in the U.S. declined:
- in Chicago 0.46 $/tonne to 154,69 $/tones of soft winter wheat SRW,
- in Kansas city 1.65 $/tonne to 157,26 $/tones on hard winter wheat HRW.
Hard spring wheat HRS in Minneapolis has increased at 1.10 $/tonne to 198,69 $/ton.
European quotes under pressure not only in Chicago, but the unsatisfactory results of the export. According to official data, during the week, the EU exported 98 thousand tons of wheat.
May milling wheat quotations on the MATIF fell by € 1.25/ton to € 167,25/180,37 ton or $/ton.