The reduction of forecasts of world production and wheat stocks supports prices

Despite a slight decline in projections for global production and stocks of wheat in the July balance USDA, they remain a record, which leads to a gradual increase in stock prices.

the Forecast of world wheat production in 2020/21 MG in comparison with the June balance was reduced from 773,4 to 769,3 million tonnes, which is almost the answer may rating and 4.5 million tonnes higher than the figure recorded 2019/20 Mr.

For U.S. production forecast was reduced by 1.46 million tons to 49,63 million tons (2019 52.2 million tons), EU – 1.5 MMT to 139,5 million tons (2019 154.9 million t), for Russia by 0.5 million tonnes to 76.5 million tons (in 2019 73,61 million tons).

Estimate the initial stocks of wheat in 2020/21 MG increased by 1.28 million tonnes to 297,12 million tonnes, primarily due to an increase in the U.S. at 1.66 million tonnes, which is 6.2% higher than the previous season.

the Total volume of offers of wheat will increase in comparison with the previous year by 2.1%, to 1,066 billion T.

the Forecast of world wheat exports decreased by 0.8 million tonnes to 188,04 million tonnes due to a decrease for EU-28 up to 27 million tons compared to 36.5 million tonnes in 2019/20 Mr.

Estimate world consumption of wheat has reduced by 1.6 million tonnes to 751,6 million tonnes, which is only 0.65 exceeds that of the previous season.

the Forecast of world ending stocks of wheat in 2020/21 MG reduced compared to the June report by 1.25 million tonnes to 314,84 million tonnes, which is 6% higher than last year 295,8 million tonnes, In particular in Russia will decrease by 1.5 million tons to 7.78 million tonnes in Australia by 0.5 million tons to 5.19 million tons.

On the back of lower production forecasts and data about China's purchase last week of 320 thousand tons of wheat from the U.S. wheat futures in Chicago rose to a maximum of 11 weeks.

the September wheat futures in the U.S.:

the

0.09 $/t to 193,36 $/t on a firm spring HRS wheat in Minneapolis.

• 3.31 $/t to 196,21 $/t for SRW soft winter-wheat in Chicago

Fell for 1.75 $/t to 166,08 $/t for solid winter HRW wheat in Kansas city.

According to FranceAgriMer, France as of July 6, threshed 10% of crops soft wheat (4% a week ago and 6% a year ago), and the number of crops in good or excellent condition fell by 1% to 55%.

In contrast to the Chicago stock exchange in Paris was closed Friday's trading with losses. Traders did not respond to the July USDA report, and decided to wait for more data harvesting.

the

• September futures milling wheat on MATIF fell by 0.75 €/t 187 €/t or 211,32 $/t