Active sales collapsed the stock price of the wheat

Activation traders sales, with increased production forecasts in the new season and poor harvest last year export has fallen off yesterday, the stock price of the wheat.

Experts Strategie Grains increased its forecast of production of soft wheat in the EU in 2019 compared to 2018 by 15%, while the estimate of exports was left at the level 2018/19 Mr.

it is Possible to increase final stocks in the 2019/20 season has forced investors to start a massive speculative sale.

Sale Algeria 600 thousand MT of wheat, mostly European, did not support quotes, because the purchase price was lower than at the previous auction.

the March futures for milling wheat on MATIF in Paris fell by 3 €/t to 198,25 €/t, and due to the depreciation of the Euro, the dollar price was 223,77 $/t

Preliminary four-day growth March f’ַfutures for soft wheat in Chicago on Thursday ended with a collapse to 6-week low due to low amount of weekly exports, which was only 161.4 m tonnes although expert expectations within 200-500 thousand t

More on prices pressured methenamine: in the centre, North and West of the American plains, the powerful snow will cover the crops and protect against frost and replenish moisture.

the March wheat futures fell:

by 4.59 $/t to 176,92 $/t for solid winter HRW wheat in Kansas city

1,84 $/t to 211,18 $/t on a firm spring HRS wheat in Minneapolis.

5,60 $/t to 186,29 $/t for SRW soft winter-wheat in Chicago

Traders are willing to reduce prices in the European and American wheat for increased sales that will put pressure on high prices of black sea wheat.

bid Prices of Russian wheat decreased by 2-3 $/t, however, in the future, the sellers will lower them more, since the demand price for wheat of the new harvest with protein 12,5% remain at the level of 200 $/t FOB compared to 240-245 USD/t FOB for shipments in March-April. The Ministry of agriculture forecasts that Russia in 2019 will gather 118 million tons against 110 million tons in 2018. Experts SovEcon downgraded its forecast for grain harvest in Russia in 2019 with up to 121,4 126,1 million tons due to favorable weather conditions.

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