Active export demand against the background of rising world prices and limited supply from producers led to an increase in purchase prices for wheat in Ukrainian ports to 3 300/ton.

Farmers take advantage of the lack of rain to quickly harvest late crops and sow winter crops, so they do not have time to sell wheat, even at high prices. After the harvest is completed, the volume of supply, primarily wheat, will increase, especially given the decline in corn prices under the pressure of increased supply and falling world prices.

According to the Ministry of Agriculture, 75% of the planned areas were sown with winter wheat as of October 18.

Purchase prices for food wheat in the ports of Ukraine remain at the level of 8850-8950 UAH/ton or 295-300 //ton, and for feed wheat – at the level of 8100-8400 UAH/ton or 270-275. / ton.

December Black Sea wheat futures on the Chicago SWOT declined on Monday, and yesterday rose to 3 330/ton. prices for Russian wheat remained unchanged for the first time after 13 weeks of growth.

On world stock exchanges, wheat prices are falling under the pressure of low export rates and falling demand due to high prices.

In the United States, as of October 17, 70% of the area was sown with winter wheat, which is 1% lower than the 5-year average. However, soil moisture reserves due to rain are higher than last year.

Wheat export inspections in the United States for the week decreased from 446 to 139.7 thousand tons, which upset traders. Since the beginning of the season, only 9.366 million tons have been tested for export. according to the forecast of IHS Markit experts, the area of winter wheat sowing in the United States will grow by 1.5% to 34.153 million acres, and spring wheat in 2022 – by 11% to 12.7 million acres.

Against the background of such News, December futures in the United States fell:

• by 0 0.1 / ton to Чикаго 270.4/ton for soft winter SRW wheat in Chicago,
• by 0 0.28 / ton to.274.9 / ton for hard winter HRW wheat in Kansas City.

However, hard spring HRS wheat in Minneapolis rose in price by 2 2.39/ton to.358/ton.

French wheat prices are pressured by data on a decrease in wheat imports by China in September compared to September 2020 by 40% to 640 thousand tons.

Due to the risk of losing the main buyer, December wheat futures on Paris Euronext fell by 2.25 €/ton from Monday to 273.75 €/ton or 3 318.5/ton, although last week they reached a maximum of 276 €/ton.

Graintrade