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The harvesting of winter wheat in the United States is in full swing, and seasonal pressure is emerging, which puts pressure on the winter wheat market.
The export sales of wheat in the United States are sluggish, and the high yield of Russian wheat is expected, which is also detrimental to wheat prices
.
However, the weather in the spring wheat producing areas of the United States and Canada is still hot and dry, threatening the yield potential and supporting spring wheat prices
.
On Friday, the Chicago Board of Trade (CBOT) September soft red winter wheat futures fell about 25 cents from a week ago, to close at 640.
75 cents per bushel
.
The Kansas City Futures Exchange (KCBT) September hard red winter wheat futures closed at about 609 cents per bushel, down 27.
5 cents from a week ago
.
The September hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at about 808 cents per bushel, up 41.
75 cents from a week ago
.
Euronext's December 2021 milling wheat period reported about 202.
50 euros/ton, down 6.
75 euros from a week ago
.
The spot price of Argentine wheat is 275 US dollars/ton, up 2 US dollars from a week ago, FOB price
.
The Zhengzhou Commodity Exchange's wheat futures for delivery in September 2021 closed at about 2,766 yuan/ton, an increase of 1 yuan from a week ago
.
75 cents per bushel
.
The Kansas City Futures Exchange (KCBT) September hard red winter wheat futures closed at about 609 cents per bushel, down 27.
5 cents from a week ago
.
The September hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at about 808 cents per bushel, up 41.
75 cents from a week ago
.
Euronext's December 2021 milling wheat period reported about 202.
50 euros/ton, down 6.
75 euros from a week ago
.
The spot price of Argentine wheat is 275 US dollars/ton, up 2 US dollars from a week ago, FOB price
.
The Zhengzhou Commodity Exchange's wheat futures for delivery in September 2021 closed at about 2,766 yuan/ton, an increase of 1 yuan from a week ago
.
On Friday, the US dollar index closed at 91.
81 points, down 0.
6% from a week ago
.
81 points, down 0.
6% from a week ago
.
The US Department of Agriculture's weekly crop progress report shows that the US winter wheat harvest is still far behind normal
.
As of June 13, the US winter wheat harvest was 17% complete, which was lower than the 27% in the same period last year and the five-year average of 26% in the same period
.
The excellent and good rate of winter wheat was 49%, higher than 48% a week ago and 52% in the same period last year
.
The weather in spring wheat producing areas is still hot and dry, which continues to threaten the growth of spring wheat crops
.
As of June 13, the excellent and good rate of spring wheat was 27%, 37% last week and 75% in the same period last year
.
.
As of June 13, the US winter wheat harvest was 17% complete, which was lower than the 27% in the same period last year and the five-year average of 26% in the same period
.
The excellent and good rate of winter wheat was 49%, higher than 48% a week ago and 52% in the same period last year
.
The weather in spring wheat producing areas is still hot and dry, which continues to threaten the growth of spring wheat crops
.
As of June 13, the excellent and good rate of spring wheat was 27%, 37% last week and 75% in the same period last year
.
The US Department of Agriculture's weekly crop progress report shows that for the week ending June 17, the net sales of wheat delivered in the United States for the 2021/22 season (starting on June 1) were 374,100 tons
.
So far in the 2021/22 year, the US wheat export sales volume was 6,173,700 tons, a decrease of 9% over the same period of the previous year
.
.
So far in the 2021/22 year, the US wheat export sales volume was 6,173,700 tons, a decrease of 9% over the same period of the previous year
.
An important event this week is China's purchase of Australian wheat
.
Although the political and trade relations between China and Australia are still tense, this week China bought about 200,000 to 250,000 tons of Australian high-protein wheat for shipping from August to September
.
The transaction price may be between US$285 and US$300 per ton, FOB price on the east coast of Australia
.
.
Although the political and trade relations between China and Australia are still tense, this week China bought about 200,000 to 250,000 tons of Australian high-protein wheat for shipping from August to September
.
The transaction price may be between US$285 and US$300 per ton, FOB price on the east coast of Australia
.
In Argentina, the Buenos Aires Grain Exchange forecasts that Argentina’s wheat exports in 2021/22 will reach 12 million tons, the highest level since 2016/17, a year-on-year increase of 26.
3%
.
The main reason for the increase in wheat exports is that the Argentine wheat production in 2021/22 will increase to 19.
15 million tons, higher than the 17 million tons in 2020/21
.
3%
.
The main reason for the increase in wheat exports is that the Argentine wheat production in 2021/22 will increase to 19.
15 million tons, higher than the 17 million tons in 2020/21
.
Analysts said that as France continues to sell wheat to China, while Romania is expected to have a bumper wheat harvest, German and Baltic wheat prices are also competitive, implying the prospects for EU wheat exports in the early period of the 2021/22 season (July to June of the following year) Optimistic
.
In contrast, Russia’s wheat export prospects are plagued by complex export tariffs
.
Strategic grain company analysts said that the current EU wheat export situation is favorable, because the EU wheat supply will be very sufficient
.
The rainfall and hot weather in the past month helped increase wheat production in the EU
.
.
In contrast, Russia’s wheat export prospects are plagued by complex export tariffs
.
Strategic grain company analysts said that the current EU wheat export situation is favorable, because the EU wheat supply will be very sufficient
.
The rainfall and hot weather in the past month helped increase wheat production in the EU
.
In the Black Sea region, in the week ending June 18, Ukrainian wheat export prices fell by US$8/ton due to improved weather conditions in the main producing countries
.
The FOB price of milling soft wheat with a protein content of 12.
5% in the Black Sea is US$252-258 per ton, and the FOB price of feed wheat is US$248-254/ton, which is also a decrease of US$8 from a week ago
.
The price of 2021 milled wheat with protein content of 11.
5% is 244-252 US dollars per ton, Black Sea FOB price, feed wheat price is 228-233 US dollars per ton, Black Sea FOB price
.
Ukraine stated that Ukrainian wheat production this year may reach 30 million tons, compared with 25 million tons last year
.
.
The FOB price of milling soft wheat with a protein content of 12.
5% in the Black Sea is US$252-258 per ton, and the FOB price of feed wheat is US$248-254/ton, which is also a decrease of US$8 from a week ago
.
The price of 2021 milled wheat with protein content of 11.
5% is 244-252 US dollars per ton, Black Sea FOB price, feed wheat price is 228-233 US dollars per ton, Black Sea FOB price
.
Ukraine stated that Ukrainian wheat production this year may reach 30 million tons, compared with 25 million tons last year
.
Last week, the export price of Russian wheat for the new summer harvest fell because of the prospect of a high yield of wheat in the Black Sea region
.
The consulting firm IKAR said that as of the end of last week, the FOB offer of 12.
5% protein content of new Russian wheat at the Black Sea port was US$248 per ton, a decrease of US$7 from a week ago
.
Since the implementation of the new floating tariffs on June 2, Russia’s wheat export tariffs have been raised by US$10, and are currently at US$38.
1 per ton, but they are still lower than the level in May
.
This may boost Russia's wheat exports in June
.
.
The consulting firm IKAR said that as of the end of last week, the FOB offer of 12.
5% protein content of new Russian wheat at the Black Sea port was US$248 per ton, a decrease of US$7 from a week ago
.
Since the implementation of the new floating tariffs on June 2, Russia’s wheat export tariffs have been raised by US$10, and are currently at US$38.
1 per ton, but they are still lower than the level in May
.
This may boost Russia's wheat exports in June
.
