The reduction of the production forecast for Russia has supported wheat prices

2019-07-05 12:44:47
Machine translation
The reduction of the production forecast for Russia has supported wheat prices

the wheat Market received support in the form of conflicting forecasts wheat production in Russia, which are in the range of 70-80 million tons.

 

Reuters estimates the harvest at 71.7 million tons, Refinitiv within 65,2-81 million tons, IKAR and Rusagrotrans is 79 million tonnes, SovEcon, hopes that production will exceed 80 million tons.

 

the Market for French wheat grew after the price spike in Chicago on Wednesday, although yesterday the US celebrated the Independence Day. Speculators warm up prices despite bearish fundamental factors in soft wheat crop in the EU at least 10% higher than last year, due to increased production in Germany and France

 

  • September futures for milling wheat on MATIF rose by €1/t to of 179.5 €/t or 202,47 $/t

 

Tunisian Agency ODC has purchased 67 tonnes of wheat with protein 11.5% price 203,69 $/t, 205,99 $/t and 211,68 $/t C&F delivery 5-25 August.

 

Algeria bought wheat at a price higher than the may tender.

 

Heat in the black sea region contributes to an increased supply of wheat and reduction of feed that the price of the latter rose by $1/t to 176 $/t FOB for deliveries in July, 178 $/t in August and 181 $/t in September.

In the West of Ukraine due to an excess of moisture may result in poor quality wheat.

 

the first harvest of wheat in Romania, Serbia and Hungary. There is excessive precipitation also led to the spread of diseases of wheat that can damage the 2 million tonnes of grain.