The decline in stock prices increases pressure on the prices of the black sea wheat

on Friday, the stock price of wheat continued to fall, and French wheat updated 5-week low, and the may wheat futures in Chicago fell to its lowest since December 30, 2020 level.

pressure declines and lower export demand, the prices for black sea wheat fell to 270-275 $/t FOB. Weekly wheat export from Russia fell to the lowest in a season of 100 thousand tons, and the total wheat exports since the beginning of the season was 34.5 million tonnes, which is 28% higher than last year's pace.

• the May futures for milling wheat on MATIF fell by 0.75 €/t to 219,75 €/t or 262,53 $/t for data on the good condition of winter wheat in France and the low export demand in the European grain.

Friday became the third consecutive day of fall in the price of soft wheat in Chicago. On the market under pressure from the stronger dollar and the improvement of winter wheat crops in the agricultural regions of the American Plains.

the May futures fell:

• 1.29 $/t to 230,38 $/t for SRW soft winter-wheat in Chicago,
• 0.55 $/t to 215,13 $/t for solid winter HRW wheat in Kansas city,

price Increased by 0.55 $/t to 230,38 $/t solid spring HRS wheat in Minneapolis.

the Trading Corporation of Pakistan (TCP) has purchased the tender of 300 thousand tons of Ukrainian wheat for delivery in August at a price 285,97 $/t C&F.

• against this background, the July futures black sea wheat in Chicago rose by 0.3% to 235 $/t

In Ukraine, the price of wheat of the new harvest for delivery in July and August remain at 238-240 $/t FOB. This reduces the price of wheat old crop, which supplies to the port of March - April dropped to 7900-8050 UAH/t or 249-255 $/t

Within a week, Ukraine exported only 130 thousand tons of wheat, which indicates low export demand. Total wheat exports since the beginning of the season amounted to 14 million tonnes, which is 19% below last year's pace.

Price offers for the supply of wheat from Australia and Argentina in the coming months fell to 260-275 $/t FOB, which increases pressure on the prices of the black sea wheat.