Wheat prices in the U.S. rose in the floods

American stock exchange on Wednesday rose 1% on the background of powerful floods in the Midwestern United States caused by the melting snow.

To this adverse weather for several days has supported prices in Minneapolis. Now heavy snow threatens flooding in the North American Plains and delay the beginning of planting season, which usually starts on April 1.

Supported the market Brazil’s decision to import 750 tonnes of wheat at zero duty. At first it was expected that this would be the wheat from the U.S., however, later in the Ministry of agriculture announced that the decision would touch grain of any country that is not included in the Latin American trade bloc Mercosur.

the import of wheat from the United States will become permanent and not a one-off, the Argentine farmers are suffering losses because Brazil is the main buyer of their wheat. On this news the price of Argentine wheat declined by 6 $/t to 224 $/t assessment Agricensus.

May futures U.S.:

the

by 3.03 $/t to 163,14 $/t for solid winter HRW wheat in Kansas city

at 2.30 $/t to 209,99 $/t on a firm spring HRS wheat in Minneapolis.

by 3.03 $/t to 170,76 $/t for SRW soft winter-wheat in Chicago

the Number of offers of Russian wheat continues to decline, so traders to attract volume have to maintain the bid price at 220 $/t FOB, while the bid prices higher by 5-6 $/t

the increased demand on the Ukrainian milling wheat to stop the fall of prices. Traders are trying to acquire the necessary parties to the possible introduction of export restrictions. The exports of wheat exceeded the agreed Memorandum 8 million tonnes, while total wheat exports is only about 13 million tonnes, 3 million tonnes below permitted by Memorandum of the amount and 7% below last year’s level.

Traders offer in the port for wheat:

the

with protein 11,5% – 203-205 $/t or 6300-6500 UAH/t,

forage – 194-196 $/t or 6150-6300 UAH/t

protein 12,5% – 205-206 $/t or 6350-6550 UAH/t,

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