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World market of grain crops: trends of the week
The nearest wheat futures last week decreased by 0,46 USD to USD 152,30
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Conjuncture of the world market of grain and leguminous crops: the cash and futures markets 27.11.17 for 01.12.17 G.


The nearest wheat futures last week decreased by 0,46 USD to 152,30 USD. Exports of wheat amounted to only 184,420 thousand tons, which is below market expectations (for the second week in a row). The result was below the level of last week, by 7.7%. The main buyers of U.S. wheat were Columbia (48.2 thousand tons) and Japan (44.6 thousand tons). The grain market continues to be under pressure from high global supply, weak demand (as evidenced by weak sales). The relative growth of quotations due to speculative reasons rather than supported by good macroeconomic bases. As the last week was used news about the worsening condition of crops of winter wheat ("good-excellent" estimated 50% of crops of winter wheat, up from 52% a week ago and 58% a year ago), and the USDA forecast on the reduction of the sowing area of wheat. Naturally, such growth cannot continue for long. In exporting countries the problem is the same: high carry-over stocks, which slows the market.

 

The market for wheat. At the end of the week to 01.12.17 the nearest futures contract for wheat strengthened slightly by 1.4 USD to 189,61 USD. European grains in addition to global factors (high supply and weakening demand) experienced by the factor "strong Euro" that limits the growth of prices. Nevertheless, the quotations of the European grain last week strengthened a little, focusing on the revival of Chicago. The main problem of European grain, high projected wheat production in Russia in 2018, which is more attractive to key buyer of wheat Egypt. Most regions in Russia planted winter wheat from mid-August to mid-October. Ideal weather conditions helped Russia achieve this year's record crop and indications of good weather next year will allow the country to maintain its position as a wheat exporter.

 

The corn market in the reporting week increased by 0.99 USD to USD 135,72 with support from the soybean market. Export sales for last week was only 599,157 thousand tons, which was below market expectations (-44,57% compared to last week). The main buyers of maize was Mexico and Japan.



Translated by service "Yandex.Translation"
Источники: Agro2b
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