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Wheat futures in Chicago and Europe hit four-month lows at the start of the week, extending last week's losses as markets continued to be weighed down by speculative selling amid global recession fears and a stronger doll.
However, the world's major importing countries are actively purchasing, coupled with unfavorable weather in Europe and Argentina, negotiations on the resumption of Ukraine's Black Sea exports are still fruitless, helping to support wheat pric.
However, the world's major importing countries are actively purchasing, coupled with unfavorable weather in Europe and Argentina, negotiations on the resumption of Ukraine's Black Sea exports are still fruitless, helping to support wheat pric.
On the Chicago Board of Trade (CBOT), September soft red winter wheat futures settled at about $915 a bushel on Friday, up 4% from a week a.
September hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) settled at around $4575 a bushel, up 5% from a week a.
September hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) settled at around $9175 a bushel, up 6 percent from a week a.
Euronext's September 2022 milling wheat futures traded at around €357/tonne, up 7% from a week earli.
The spot price of Argentine wheat was $433/ton, down 9% from a week a.
The.
dollar index closed at 10821 on Friday, up 82% from a week earli.
September hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) settled at around $4575 a bushel, up 5% from a week a.
September hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) settled at around $9175 a bushel, up 6 percent from a week a.
Euronext's September 2022 milling wheat futures traded at around €357/tonne, up 7% from a week earli.
The spot price of Argentine wheat was $433/ton, down 9% from a week a.
The.
dollar index closed at 10821 on Friday, up 82% from a week earli.
.
wheat harvest progressing well, spring wheat good-to-good rate improved
wheat harvest progressing well, spring wheat good-to-good rate improved
The recent hot and dry weather in the Great Plains of the United States has helped to speed up the wheat harve.
The.
winter wheat harvest was 54 percent complete as of July 3, compared with 43 percent a year earlier and the five-year average of 48 perce.
The.
spring wheat crop continues to improve, with 66 percent good to good, up from 59 percent a week ago and well up from 16 percent a year earli.
The.
winter wheat harvest was 54 percent complete as of July 3, compared with 43 percent a year earlier and the five-year average of 48 perce.
The.
spring wheat crop continues to improve, with 66 percent good to good, up from 59 percent a week ago and well up from 16 percent a year earli.
.
wheat exports lag behind
wheat exports lag behind
The.
Department of Agriculture's weekly export sales report showed net.
wheat sales for 2022/23 were 286,400 tons in the week ended June 30, down from 496,700 tons a week earli.
As of July 7, the FOB price of hard red winter wheat in the US Gulf was US$388 per ton, the FOB price of soft red winter wheat was US$327 per ton, the quotation of first-class milling wheat in the French port of Rouen was US$357, and the FOB price of wheat in the Russian deep-sea port At 380 US dollars / ton, the price of wheat in the Upper River region of Argentina is 433 US dollars per t.
Department of Agriculture's weekly export sales report showed net.
wheat sales for 2022/23 were 286,400 tons in the week ended June 30, down from 496,700 tons a week earli.
As of July 7, the FOB price of hard red winter wheat in the US Gulf was US$388 per ton, the FOB price of soft red winter wheat was US$327 per ton, the quotation of first-class milling wheat in the French port of Rouen was US$357, and the FOB price of wheat in the Russian deep-sea port At 380 US dollars / ton, the price of wheat in the Upper River region of Argentina is 433 US dollars per t.
Canadian wheat acreage hits nine-year high
Statistics Canada released a report on July 5, saying that due to good wheat prices and strong global demand, all wheat plantings in Canada in 2022 will be 24 million acres, higher than the 203 million acres forecast in April, and an increase of 7% from the previous ye.
, will hit the highest level since 201 Spring wheat acreage rose 15% to 12 million acres and durum acreage rose 6% to 0 million acr.
Analysts pointed out that wheat has been Canada's largest crop, and farmers have returned to planting wheat amid rising pric.
High fertilizer prices do not appear to have a negative impact on wheat cultivation, and farmers may still have nitrogen fertilizer left over from last ye.
, will hit the highest level since 201 Spring wheat acreage rose 15% to 12 million acres and durum acreage rose 6% to 0 million acr.
Analysts pointed out that wheat has been Canada's largest crop, and farmers have returned to planting wheat amid rising pric.
High fertilizer prices do not appear to have a negative impact on wheat cultivation, and farmers may still have nitrogen fertilizer left over from last ye.
Argentine wheat acreage continues to decline
The Buenos Aires Grain Exchange lowered Argentina's 2022/23 wheat area to 2 million hectares, down from a forecast of 3 million hectares a week ago, and down 5 percent from the previous ye.
This is also the fourth time since May that plantings have been lowered as dry weather led to the slowest pace of wheat plantings in a decade this ye.
This is also the fourth time since May that plantings have been lowered as dry weather led to the slowest pace of wheat plantings in a decade this ye.
EU wheat production lowered
Bad weather in some major agricultural producing areas of the EU has affected wheat producti.
EU growers' group COPA-COGECA this week forecast soft wheat production in the EU-27 at 124 million tonnes in 2022, down 5 percent from the previous ye.
Extreme weather, such as high temperature, dryness and hail, has affected wheat producti.
Delays in fertilizer purchases in some regions are also a conce.
EU growers' group COPA-COGECA this week forecast soft wheat production in the EU-27 at 124 million tonnes in 2022, down 5 percent from the previous ye.
Extreme weather, such as high temperature, dryness and hail, has affected wheat producti.
Delays in fertilizer purchases in some regions are also a conce.
In addition, the results of a survey of 13 analysts showed that soft wheat production in the EU-27 in 2022/23 will reach 127 million tonnes, down 4% from the previous ye.
In contrast, the European Commission's July 1 report forecasts EU soft wheat production in 2022/23 at 125 million tonnes, down from an earlier forecast of 134 million tonnes and 9% lower than in 2021/2 It should be noted that this year's large high-quality wheat crop in Germany has helped the EU's second-largest wheat grower's export prospects remain stro.
In contrast, the European Commission's July 1 report forecasts EU soft wheat production in 2022/23 at 125 million tonnes, down from an earlier forecast of 134 million tonnes and 9% lower than in 2021/2 It should be noted that this year's large high-quality wheat crop in Germany has helped the EU's second-largest wheat grower's export prospects remain stro.
Importing countries actively purchase
The recent continuous decline in wheat prices has attracted global importing countries to actively purcha.
The global benchmark CBOT wheat has lost 44% since the rout that began in mid-M.
Following the purchase of 815,000 tons of edible wheat at the end of June, Egypt's General Administration of General Commodities Supply (GASC), the top wheat importer, bought about 444,000 tons of wheat through direct trading on Monday, and about 63,000 tons on Thursd.
German whe.
South Korean mills bought about 50,000 tons of.
milling wheat and 100,000 tons of Australian wheat on Wednesd.
Jordan's state-owned grain buyer bought 120,000 tonnes of milled hard wheat, from a choice of orig.
The global benchmark CBOT wheat has lost 44% since the rout that began in mid-M.
Following the purchase of 815,000 tons of edible wheat at the end of June, Egypt's General Administration of General Commodities Supply (GASC), the top wheat importer, bought about 444,000 tons of wheat through direct trading on Monday, and about 63,000 tons on Thursd.
German whe.
South Korean mills bought about 50,000 tons of.
milling wheat and 100,000 tons of Australian wheat on Wednesd.
Jordan's state-owned grain buyer bought 120,000 tonnes of milled hard wheat, from a choice of orig.
Ukraine has no intention of reaching a deal with Russia to unlock Black Sea exports
Ukrainian Foreign Minister Dmitro Kuleba said on July 6 that in the foreseeable future, Ukraine is unlikely to reach an agreement on lifting the blockade of grain exports from Ukrainian por.
Ukraine will harvest at least 50 million tonnes of grains in 2022, higher than the five-year average, said Taras Vysotsky, first deputy minister of Ukraine's Ministry of Agricultural Poli.
Considering that domestic consumption is less than 20 million tons, this means that the supply available for export will reach 30 million to.
Considering that domestic consumption is less than 20 million tons, this means that the supply available for export will reach 30 million to.
Russia is open to a Turkish-facilitated trade in Black Sea grains and is preparing to negotiate to help ship grains from Ukrainian ports to the Mediterranean, Russian Foreign Minister Sergei Lavrov said on Frid.
Turkey and the United Nations have been working to promote a Black Sea trade route in response to a deepening global food cris.
Food and fertilizer exports from the Black Sea region have stalled, raising fears of soaring food prices and widespread hunger in Afri.
Lavrov said that Ukraine must first lift the blockade of its ports, clear the ports or ensure the safe passage of ships through minefiel.
Outside Ukraine's territorial waters, Russia and Turkey are ready to ensure the safety of relevant shi.
Turkey and the United Nations have been working to promote a Black Sea trade route in response to a deepening global food cris.
Food and fertilizer exports from the Black Sea region have stalled, raising fears of soaring food prices and widespread hunger in Afri.
Lavrov said that Ukraine must first lift the blockade of its ports, clear the ports or ensure the safe passage of ships through minefiel.
Outside Ukraine's territorial waters, Russia and Turkey are ready to ensure the safety of relevant shi.
