The increase in wheat prices reduces demand

the Main factors of pressure on world wheat prices were an increase in projected production for Russia, and a decrease in exports from major producing countries.

the Russian grain Union has increased the forecast of wheat production in Russia to 75.8 million tons, and the Agency ICAR from 75 to 75.4 million tonnes, while the estimate of exports was left unchanged.

Russia for a week has reduced the export of wheat from 848 to 759 thousand tons and since the beginning of the season sold 12.1 MT of wheat, which is 11% below the corresponding indicator 2018

Ukraine per week reduced the exports of wheat from 815 to 381 thousand tonnes due to declining global demand and the reduction in the number of proposals from vendors who are actively selling corn and restrain the sale of wheat.

the European Union per week exported only 11,045 think of the boost thousand tons of wheat, and overall in the season – 6.7 million tons, which is 38% higher than the previous my.

the Activity of buyers and traders fell on the eve of the publication of the report USDA.

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• Futures milling wheat in Paris rose 0.25 €/t up to 176,5 €/t or 193,71 $/t against problems with the harvest in Canada and drought in Australia.

Precipitation with snow delaying the harvest of spring wheat in Canada. As of October 1, the Alberta wheat threshed by 34.7% of areas in Saskatchewan 44% of the area. Next week there will be dominated by dry and cold weather will speed up the build, but grain quality may deteriorate.

Through snow and rain can't speed up the harvest of spring wheat in the United States. If in Montana last week was threshed 84% of the area, now their number has increased to 86%. In North Dakota, the figures are 89% and 90%, respectively.

the US last week reduced the export of wheat by 14% to 386,25 kt and the beginning of the season, exported 8.9 million tonnes, which is 17% higher than the previous MG.

the September wheat futures in the U.S. fell:

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0.64 $/t to 147,80 $/t for solid winter HRW wheat in Kansas city.

• 0.46 $/t to 179,77 $/t for SRW soft winter-wheat in Chicago

Rose 0.92 $/t to 197,86 $/t hard spring HRS wheat in Minneapolis.

Today, the Egyptian GASC tenders for the purchase of wheat for delivery 10-20 November 2019, which will determine future price targets. Recall that 5 days ago GASC bought 60 thousand tons of French wheat.