Wheat prices fall under pressure from new crop

the wheat Market slows down activity ahead of the publication on Tuesday of the April forecast by the USDA. Active planting pace and favourable weather conditions with moderate heat and rainfall contribute to the formation of a good harvest of wheat in the world this season.

On the stock exchange in Paris September quotes of new crop wheat continue a slight decline. Precipitation, which changed the period the weather is dry, strengthen the confidence in a good harvest.

the May wheat prices received support from the growth rate of exports and decreased by only €0.25 to 189,25 € / t or 212,35 $/ton.

Since the beginning of the 2018/19 season, France exported 10,098 million tons of soft wheat, which is 12% higher than the same period last season. Largest customers are Algeria, about 37% of total imports of EU countries-Belgium (14%).

on Friday, the American market winter wheat together fixed income.

Hard spring wheat has been falling for 7 consecutive trading days, after it became clear that fears about the consequences of the floods in the Northern regions of the American plains are greatly exaggerated.

the May quotes of the American wheat have decreased:

soft wheat SRW in Chicago by $1.10 to 171,87 $/ton
hard wheat HRW in Kansas city for $3,03 to 158,45 $/ton
hard wheat HRS in Minneapolis for $1.75 to 191,98 $/ton

In the market of Ukraine marked a new deal for the purchase of wheat of the new crop that generates prices of the new harvest. Philippines bought two of the ship feed wheat at a price of approximately 212$/t CFR that the freight costs about 32$/t shows the equivalent of about$180/t FOB with delivery in June-July.

https://graintrade.com.ua