Rising world prices heats the wheat market in Ukraine
Purchase of significant quantities of the major wheat importing countries last week has increased the demand for wheat on the physical market and on world markets.
Ukraine has increased the demand for feed wheat, after which started to rise in price and food grains.
outdoor harvest of corn, sunflower and sugar beet on the background of increasing demand for wheat at the ports has led to a sharp increase in the cost of transportation from 30-50%. The growth of logistics costs slow export sales, and even increase the procurement price of wheat by 2-3 $/t has not activated delivery to the ports.
the Weakening of the dollar increases the competitiveness of U.S. wheat despite the insignificant growth of quotations. Prices supports an increase in the weekly wheat exports by 20.9% to 468,43 thousand tons, which is 52.5% more than last year.
December futures for the American wheat was grown:
0.28 $/t to 193,64 $/t for solid winter HRW wheat in Kansas city
0.18 $/t to 216,23 $/t on a firm spring HRS wheat in Minneapolis.
- 0.55 $/t to 192,53 $/t for SRW soft winter-wheat in Chicago
the Market for French wheat on Thursday traded in the red under pressure from the strengthening Euro and lower export sales for the week amounted to only 162,79 thousand tons and total export volume by 41% compared to same period last year.
However the price was supported by data on drought in some European countries, which prevents the sowing of winter wheat.
- December futures for milling wheat on the Paris stock exchange remained at the level of 202,5 €/t or 238,53 $/t