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Wheat prices slowed the rate of decline
On the stock exchange of Chicago after upgrading a six-week low, wheat prices rebounded slightly. The price of grain stabilized due to technical buying held by speculators.
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Export shipments of wheat from the U.S. last week increased by 33.8% to 425,2 thousand tonnes, which is 43% higher than the corresponding period last year. Most of the grain was sent to Mexico.

Yesterday Tunisia bought 92 TMT of wheat with protein 11.5% from the July delivery price 221,54 $/t CFR, which is 14 $/t lower than they were a month ago.

On Euronext yesterday quotes increased by 0.5 €/t 182 €/t or 202,58 $/t after a five-day decline. Such dynamics is primarily due to the fall of the Euro to 10-month low.

State operator Saudi Arabia SAGO is going to buy 600 thousand tons of wheat with a protein of 12.5% with delivery from July to September. The result of the procurement will become an additional factor influencing the cost of grain.

In Russia due to the reduction of supply and demand (week exported 200 thousand tons of wheat) prices have declined offers to 215 $/MT FOB for deliveries in may, and 188 USD/MT FOB for shipments in July, the new crop wheat.

In Ukraine, the purchasing price for grain plummeted because of reduced export demand. Trader mainly in April to close the contracts and do not plan to buy wheat until the next harvest.

Prices at the port for the week decreased by 5-10 $/MT and now are:

  • wheat protein 12,5% 194-195 $/t or 6050-6100 UAH/t,
  • wheat with protein 11.5% of 190-192 $/t or 6000-6050 UAH/t,
  • feed wheat 185-190 $/t or 5750-5850 UAH/t.

Quotes for Ukrainian new crop wheat is also reduced. Traders offer for delivery to the port in July-August feed wheat 158-160 $/t, food with protein 11,5% — 168 $/t

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Translated by service "Yandex.Translation"
Источники: IDK.Эксперт
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