the previous week, export prices for Russian wheat have continued to increase due to high demand and enhanced checks by Rosselkhoznadzor to export terminals and batches of wheat.
the price of Russian wheat with protein 12,5% increase on the $2-3/t to 230-232 $/t. the Rosselkhoznadzor, which has recently strengthened export now announced plans to check all Russian export ports.
the Growth of prices for Russian wheat gives a boost to stock exchange quotations in the USA and Europe.
After two days of growth last week, on Monday the price of French wheat fell 0.25 €/t 204.5 €/t or 236,93 $/t
Gloomy prospects for European exports and the strengthening of the Euro also put pressure on prices.
Experts Strategie Grains in its October report increased the estimate of exports of soft wheat from the EU to 600 thousand tons to 19.4 million tonnes, due to reduction of wheat production by 10% will still yield a low figure for the previous MG – 20.5 million tons.
the Increase in wheat prices in the United States that began last week continued into Monday. December futures for soft wheat in Chicago have renewed 3-week maximum. On the background of rise in price of Russian wheat and the improvement of export prospects for U.S. grains, the investors were heavily involved in speculative purchases. Additionally, price maintains a sharp rise in the neighboring markets of soybeans and corn.
For the week, the United States exported 450,9 you tonnes of wheat, up 38.5% compared with the corresponding period in 2017.
December wheat futures in the U.S.:
2,75 $/t to 195,38 $/t for solid winter HRW wheat in Kansas city
by 21.65 $/t to 220,64 $/t on a firm spring HRS wheat in Minneapolis.
2.85 $/t to 192,90 $/t for SRW soft winter-wheat in Chicago
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