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World market of grain crops: trends of the week
The nearest wheat futures to 28.07.17 city fell by 6.71 USD to 176,73 USD. The main pressure on the wheat market, as expected, provided a factor start harvesting spring wheat in the United States, as 31% of the crops which 28.07.17 was at the level of "good-excellent". Overall, the rate of harvesting amounted at the reporting date 28.07.17 – 9%, which corresponds to level of last year. The rate of harvest of winter wheat is 88%, which also corresponds to the average value and are encouraged by the market and pressure on prices. In addition to these terms, wheat fell under the pressure of falling market of soybeans and corn, which only accelerated the decline of quotations
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Conjuncture of the world market of grain and leguminous crops: the cash and futures markets from 24 to 28 July, 2017

The nearest wheat futures to 28.07.17 city fell by 6.71 USD to 176,73 USD. Export sales of the week amounted to 476,606 thousand tons (against expectations of 350-550 TMT). Thus, exports YTD 25.6% more than last year on the same date. The major customers of the week, have stepped up purchases of steel: China, South Cora, Chile, Mexico.

The main pressure on the wheat market, as expected, provided a factor start harvesting spring wheat in the United States, as 31% of the crops which 28.07.17 was at the level of "good-excellent". Overall, the rate of harvesting amounted at the reporting date 28.07.17 – 9%, which corresponds to level of last year. The rate of harvest of winter wheat is 88%, which also corresponds to the average value and are encouraged by the market and pressure on prices. In addition to these terms, wheat fell under the pressure of falling market of soybeans and corn, which only accelerated the decline of quotations.

A brief strengthening of the quotes to the end of the week not allowed to reach the level of the beginning of the week. Many countries in the harvest period are experiencing difficulties with the weather conditions or the fear of lower yields of the current season, however, market experts continue to recognize that the offer of grain on the world market continues to be record and the use of speculative reasons for the rapid growth is not justified, as forecasts of final yields are still adjusted and for some countries (including Russia) can be increased. If the soybean market record carryovers of the season as a factor in the pressure still, market experts can be compensated by the expectation of increased demand for culture from the breeding for wheat confidence in increasing demand yet and the market is clearly experiencing difficulties with sales.

 

The market for wheat. At the end of the week to 28.07.17 the nearest wheat futures rose 1.1 USD to 199,96 USD. Quotes European wheat was pressured throughout the week from neighboring Chicago market and a stronger Euro. It is also worth noting that this week, IKAR raised its forecast for the wheat harvest in Russia, which will also have an impact on the decline of quotations (Russian exporters are the main competitors on the EU market).

 

The corn market for the reporting week declined. So, drop the nearest futures contract was 2.17 USD to 147,33 USD. Export sales weeks of the old crop was $ 91,968 thousand tons (which is below the level of the previous week) and 486,643 thousand tons, which is by 29.47% higher than last week (when market expectations of 200-500 thousand tons for old crop and 200-400 thousand tons for the new crop).



Translated by service "Yandex.Translation"
Источники: Agro2b