The completion of sowing of spring wheat and the beginning of harvest of winter lowers the stock price

2020-06-02 12:02:30
Machine translation
The completion of sowing of spring wheat and the beginning of harvest of winter lowers the stock price

the Forecast of rains in the EU after a period of drought and favorable harvest weather in the southern United States tend to depress world prices on the exchanges.

 

the decline of the prices of the Egyptian GASC today will hold the first in a new season of tender for purchase a minimum of 55-60 thousand tons of soft milling wheat for delivery 10-25 July.

 

In Russia as of June 1 spring wheat sown 99.3% of the planned area, or 12.1 million hectares. Recent precipitation will contribute to the development of wheat crops.

 

In the United States spring wheat as of may 31, planted 91% of areas, compared with 96% on average for 5 years.

 

In good or excellent condition are 80% of the spring wheat, which is 6% higher compared to the previous year, while the number of winter wheat crops in good or excellent condition for the week decreased by 3% to 51%, which is 13% below last year's level.

 

Dry and warm weather accelerated the harvesting of winter wheat. In Texas the crop is harvested at 29% whilst in the centre and South of the state of the collection completed. Upstate and southern Oklahoma rains hampered the harvest.

 

Rainfall this week has slowed planting in Canada. So, in the provinces of Saskatchewan and Alberta planted 80% of the planned areas, Manitoba – 65%. The rain will last for another week, delaying the sowing campaign.

 

the Beginning of the wheat harvest in the United States omits the quotes, which additionally presses the forecast improvement in the weather in agricultural regions of the South American Plains.

 

the July wheat futures in the U.S. fell:

the

by 2.94 $/t to 169,94 $/t for solid winter HRW wheat in Kansas city

1.38 $/t to 191,52 $/t on a firm spring HRS wheat in Minneapolis.

  • 2.02 $/t to 189,32 $/t for SRW soft winter-wheat in Chicago

 

the Paris Bourse started the week under pressure to improve the prospects of the wheat crop in Ukraine and Russia due to favorable precipitation.

 

the

  • September futures for milling wheat on MATIF fell by 1.75 €/t to 186.5 €/t or 207,43 $/t

 

Prices of black sea wheat of the new crop remain at the level of 200 $/t FOB, but today's tender in Egypt will determine price targets for July.

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