Growing demand from importers in the near future will intensify world trade in wheat

2020-06-30 12:09:31
Machine translation
Growing demand from importers in the near future will intensify world trade in wheat

the World's stock exchanges started the week with a slight growth in the price of wheat on expectations of increased demand from importers after the price cuts, and in anticipation of the publication of the final data on sown areas and reserves in the United States.

 

the Algerian Agency OAS announced a tender to buy at least 50 tons of soft milling wheat for delivery in September.

 

the Ministry of trade of Jordan announced an international tender for the purchase of 120 thousand tons of wheat optional origin for delivery in November and December.

 

the government of Morocco is expecting that imports of wheat will increase in comparison with last year from 5.1 to 6 million tons, because the own production decrease due to dry weather conditions. Total yield of wheat and barley in Morocco in the current season will be 60% below average 10-year and amount to 3 million tonnes, of which 1.65 million tons of conventional wheat, 0.75 million tonnes – solid and 600 thousand tons of barley.

 

the

  • September futures milling wheat on MATIF rose by 3 €/t to 179,25 €/t or 201,61 $/t for the possible reduction of wheat production in the EU and increasing imports of French wheat traditional buyers, Algeria and Morocco.

 

According to FranceAgrimer, the amount of wheat in good or excellent condition for the week have not changed and amounted to 56%.

 

Bureau of statistics of Canada reported that the sowing area of wheat for harvest in 2020 increased compared to the previous year by 1.5% to 25 million acres due to expansion of area under wheat solid 16.2%.

 

the Chicago stock Exchange yesterday almost erased Friday's losses, as after a sharp decline in prices, investors have begun to carry out speculative purchase. Traders are trying to open long positions ahead of the publication of the quarterly USDA report, which estimated reserves of wheat in the United States as of June 1 can be reduced to 980 million bushels, compared with 1.08 billion bushels a year ago.

 

Hot weather in the U.S. promotes the active gathering of winter wheat, which was threshed on 41% of the area compared to 26% a year ago, but a negative effect on crops of spring wheat, the number of which in good or excellent condition for the week decreased by 6% to 69% compared to 75%.

 

the July wheat futures in the U.S.:

the

by 2.76 $/t to 157,54 $/t for solid winter HRW wheat in Kansas city.

  • 4.23 $/t to 178,39 $/t for SRW soft winter-wheat in Chicago

Fell by 0.55 $/t to 182,61 $/t hard spring HRS wheat in Minneapolis.

 

Dry and hot weather in the South of Russia contributes to the harvest of winter wheat, 70% of which according to preliminary data rate as food. Prices for Russian wheat with protein to 12.5% last week, fell to 3-5 $/t to 195-198 $/t FOB.

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