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    Home > Food News > Food Articles > Global wheat market: weather worries, wheat prices rise

    Global wheat market: weather worries, wheat prices rise

    • Last Update: 2021-04-17
    • Source: Internet
    • Author: User
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    News from April 12: In the week ending April 9, 2021, global foodmate.
    net/tag_2057.
    html" class="zdbq" title="Wheat-related food information" target="_blank">wheat foodmate.
    net/tag_2496.
    html" class="zdbq" title="Price related food information" target="_blank">prices have mostly risen because of the recent cold wave in Europe and the Black Sea region, threatening the local wheat yield potential.
    In recent days, the weather in the spring wheat production areas in the foodmate.
    net/tag_2463.
    html" class="zdbq" title="U.
    S.
    related food information" target="_blank">United States has continued to be dry.
    Affect spring wheat sowing and initial growth.
    However, US wheat foodmate.
    net/tag_227.
    html" class="zdbq" title="Export-related food information" target="_blank">export sales are sluggish, and winter wheat producing areas are generally in good condition, which is unfavorable to wheat prices.
     
    On Friday, the Chicago Board of Trade (CBOT) May soft red winter wheat futures rose by about 27.
    75 cents from a week ago to close at 638.
    75 cents per bushel.
    The Kansas City Futures Exchange (KCBT) May hard red winter wheat futures closed at approximately 586.
    50 cents per bushel, up 21.
    5 cents from a week ago.
    The May hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 654 cents per bushel, up 54.
    5 cents from a week ago.
    Euronext's September 2021 milling wheat period reported about 199.
    50 euros/ton, an increase of 3 euros from a week ago.
    The spot price of Argentine wheat was US$261/ton, up US$4 from a week ago, FOB price.
    The Zhengzhou Commodity Exchange's wheat futures for delivery in May 2021 closed at 2,767 yuan/ton, an increase of 117 yuan from a week ago.
     
      On Friday, the ICE dollar index closed at 92.
    18 points, down 0.
    9% from a week ago.
     
      This week the wheat market began to worry about the cold weather, including the EU's number one wheat producing country-France will be affected by a puff of cold air, the temperature may drop to the lowest level in history, thus affecting the recent optimism.
    The weather in the northern plains of the United States continues to be dry, especially for the spring wheat market, because bad weather may cause a decline in planting area and reduced yield potential.
     
      According to the weekly crop report issued by the National Bureau of Agricultural Statistics of the United States Department of Agriculture, as of April 4, the proportion of American winter wheat with excellent ratings was 53%, down from 62% in the same period last year.
    The earing rate of winter wheat was 4%, which was higher than the same period last year and the five-year average of 3%.
    The spring wheat planting progress is 3%, the same as the same period last year, and 2% higher than the five-year average.
     
      According to the weekly export sales report released by the US Department of Agriculture, for the week ending April 1, 2021, the United States’ 2020/21 net wheat sales were 82,000 tons, a new annual low, 67% lower than last week and four weeks.
    The average is 75% lower.
    So far in 2020/21, the total US wheat export sales have reached 25.
    186 million tons, an increase of 0.
    6% over the same period last year.
     
      The April supply and demand report released by the U.
    S.
    Department of Agriculture showed that this month's U.
    S.
    wheat import data was revised down by 10 million bushels to 110 million bushels, while the 2020/21 wheat feed and other consumption data were revised down by 25 million bushels to 100 million bushels.
    The wheat export data remains unchanged.
    As a result, the 2020/21 wheat ending stock data has been revised up to 852 million bushels, but it is still 17% lower than the previous year.
    The 2020/21 global wheat trade data is revised up by 1.
    2 million tons to a record 198.
    9 million tons.
    The 2020/21 global wheat ending stock data is revised down by 5.
    7 million tons to 295.
    5 million tons, of which China accounted for most of the decline.
     
      In the Black Sea region, Russian wheat export prices fell for the fifth consecutive week last week because of weak demand.
    According to IKAR, a consulting agency in Moscow, as of April 2nd, the FOB price of 12.
    5% ​​of Russian protein wheat for April shipping at the Black Sea port was 245 US dollars per ton, down 12 US dollars from a week ago.
    Another Moscow-based consulting firm SovEcon said that wheat and barley prices both fell by US$5 last week, from US$248 to US$235 per ton.
     
      This week, the Russian Ministry of Agriculture began to release the benchmark prices and export tax rates for wheat, barley and corn export tariffs in order to prepare for the floating tariffs that will be implemented in June.
    Russia will implement a formula tax calculation from June 2nd, subtracting $200 from the base price of wheat, and then multiplying it by 70%.
    The wheat benchmark price in the formula is not the export contract price, but the benchmark price calculated by the Moscow Exchange.
    As of April 2, Russia’s benchmark wheat export price was US$281.
    8/ton, and the export tariff based on the above formula was US$57.
    2/ton.
     
      According to advisory agency APK-Inform, Ukrainian wheat export prices fell by US$9/ton in the past week, because of the decline in demand, the outlook for wheat production in 2021 is bright.
    As of the end of last week, Ukrainian premium milling soft wheat was quoted at US$245-251 per ton, down from US$254-260 per ton a week ago.
    The price of feed wheat fell by US$9 to US$241-247 per ton, both at the Black Sea FOB price.
    foodmate.
    net/tag_2057.
    html" class="zdbq" title="Wheat-related food information" target="_blank">Wheat foodmate.
    net/tag_2496.
    html" class="zdbq" title="Price related food information" target="_blank">prices foodmate.
    net/tag_2463.
    html" class="zdbq" title="U.
    S.
    related food information" target="_blank">U.
    S.
    foodmate.
    net/tag_227.
    html" class="zdbq" title="Export-related food information" target="_blank">exports
     
      On Friday, the Chicago Board of Trade (CBOT) May soft red winter wheat futures rose by about 27.
    75 cents from a week ago to close at 638.
    75 cents per bushel.
    The Kansas City Futures Exchange (KCBT) May hard red winter wheat futures closed at approximately 586.
    50 cents per bushel, up 21.
    5 cents from a week ago.
    The May hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 654 cents per bushel, up 54.
    5 cents from a week ago.
    Euronext's September 2021 milling wheat period reported about 199.
    50 euros/ton, an increase of 3 euros from a week ago.
    The spot price of Argentine wheat was US$261/ton, up US$4 from a week ago, FOB price.
    The Zhengzhou Commodity Exchange's wheat futures for delivery in May 2021 closed at 2,767 yuan/ton, an increase of 117 yuan from a week ago.
     
      On Friday, the ICE dollar index closed at 92.
    18 points, down 0.
    9% from a week ago.
     
      This week the wheat market began to worry about the cold weather, including the EU's number one wheat producing country-France will be affected by a puff of cold air, the temperature may drop to the lowest level in history, thus affecting the recent optimism.
    The weather in the northern plains of the United States continues to be dry, especially for the spring wheat market, because bad weather may cause a decline in planting area and reduced yield potential.
     
      According to the weekly crop report issued by the National Bureau of Agricultural Statistics of the United States Department of Agriculture, as of April 4, the proportion of American winter wheat with excellent ratings was 53%, down from 62% in the same period last year.
    The earing rate of winter wheat was 4%, which was higher than the same period last year and the five-year average of 3%.
    The spring wheat planting progress is 3%, the same as the same period last year, and 2% higher than the five-year average.
     
      According to the weekly export sales report released by the US Department of Agriculture, for the week ending April 1, 2021, the United States’ 2020/21 net wheat sales were 82,000 tons, a new annual low, 67% lower than last week and four weeks.
    The average is 75% lower.
    So far in 2020/21, the total US wheat export sales have reached 25.
    186 million tons, an increase of 0.
    6% over the same period last year.
     
      The April supply and demand report released by the U.
    S.
    Department of Agriculture showed that this month's U.
    S.
    wheat import data was revised down by 10 million bushels to 110 million bushels, while the 2020/21 wheat feed and other consumption data were revised down by 25 million bushels to 100 million bushels.
    The wheat export data remains unchanged.
    As a result, the 2020/21 wheat ending stock data has been revised up to 852 million bushels, but it is still 17% lower than the previous year.
    The 2020/21 global wheat trade data is revised up by 1.
    2 million tons to a record 198.
    9 million tons.
    The 2020/21 global wheat ending stock data is revised down by 5.
    7 million tons to 295.
    5 million tons, of which China accounted for most of the decline.
     
      In the Black Sea region, Russian wheat export prices fell for the fifth consecutive week last week because of weak demand.
    According to IKAR, a consulting agency in Moscow, as of April 2nd, the FOB price of 12.
    5% ​​of Russian protein wheat for April shipping at the Black Sea port was 245 US dollars per ton, down 12 US dollars from a week ago.
    Another Moscow-based consulting firm SovEcon said that wheat and barley prices both fell by US$5 last week, from US$248 to US$235 per ton.
     
      This week, the Russian Ministry of Agriculture began to release the benchmark prices and export tax rates for wheat, barley and corn export tariffs in order to prepare for the floating tariffs that will be implemented in June.
    Russia will implement a formula tax calculation from June 2nd, subtracting $200 from the base price of wheat, and then multiplying it by 70%.
    The wheat benchmark price in the formula is not the export contract price, but the benchmark price calculated by the Moscow Exchange.
    As of April 2, Russia’s benchmark wheat export price was US$281.
    8/ton, and the export tariff based on the above formula was US$57.
    2/ton.
     
      According to advisory agency APK-Inform, Ukrainian wheat export prices fell by US$9/ton in the past week, because of the decline in demand, the outlook for wheat production in 2021 is bright.
    As of the end of last week, Ukrainian premium milling soft wheat was quoted at US$245-251 per ton, down from US$254-260 per ton a week ago.
    The price of feed wheat fell by US$9 to US$241-247 per ton, both at the Black Sea FOB price.
    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

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