All week quotes in Chicago declined. The July futures closed Friday's trading at $4,99 per bushel ($183,2/t) against $of 5.26 per bushel ($of 193.3/t) a week earlier (from -5.2%). The main reason for the start of the rains in the United States, Southern Russia and Ukraine.
 
On the background of the approaching end-of-season purchasing activity began to decline markedly. Wheat 12.5% in the deep-water ports fell с11700-11900 RUB/tonne to 11400-11700 RUB/t
 
Benchmark export prices for new crop wheat $200/t to which the market is likely to adapt in the coming weeks.

In the first forecast for 2018/19, USDA has cut the rating as world wheat production and stocks. It was the first time in the last five years. The world wheat crop is expected to 747,7 mln t compared to 758,3 million tonnes in the current season, the stocks – 264,3 million tonnes against 270,5 million t. the Ratio of carryover stocks to consumption to fall to 35.1% from 36.4%.

What does it mean?
 
Soon, wheat prices in the South will probably continue to decline. But in General, in the new season of the price level may be above the current.