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in the week ended January 21, 2022 , mainly due to tensions between Russia and Ukraine, which helped to add risk premiums to wheat prices; cold and dry weather in the U.
S.
winter wheat producing areas may Some winter wheat freezes to death; the world's major wheat importing countries actively purchase wheat, which is also good for wheat prices
.
March soft red winter wheat futures settled at around 780 cents a bushel on the Chicago Board of Trade on Friday, up 38.
5 cents, or 5.
2%, from a week ago
.
March hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) settled at around 793.
25 cents a bushel, up 48.
25 cents, or 6.
5%, from a week ago
.
March hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) settled at around 936 cents a bushel, up 57.
75 cents, or 6.
6%, from a week ago
.
March 2022 milling wheat futures on Euronext traded at around €272.
50/tonne, up €9 or 3.
4% from a week earlier
.
The spot price of Argentine wheat was $301/ton, down $1 or 0.
3% from a week ago, FOB price
.
5 cents, or 5.
2%, from a week ago
.
March hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) settled at around 793.
25 cents a bushel, up 48.
25 cents, or 6.
5%, from a week ago
.
March hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) settled at around 936 cents a bushel, up 57.
75 cents, or 6.
6%, from a week ago
.
March 2022 milling wheat futures on Euronext traded at around €272.
50/tonne, up €9 or 3.
4% from a week earlier
.
The spot price of Argentine wheat was $301/ton, down $1 or 0.
3% from a week ago, FOB price
.
Wheat trade may face disruption as tensions between Russia and Ukraine
Tensions between Russia and Ukraine have been in the spotlight recently, with escalating tensions between the two countries providing upside support for grain prices, including wheat
.
Analysts said that in the event of a conflict between the two countries, Black Sea grain exports could be disrupted, disrupting the global grain trade market
.
Russia is the world's largest exporter of wheat, and Ukraine is also a major exporter of grains
.
Any disruption to Black Sea grain exports could have a major impact on prices and further fuel food inflation
.
.
Analysts said that in the event of a conflict between the two countries, Black Sea grain exports could be disrupted, disrupting the global grain trade market
.
Russia is the world's largest exporter of wheat, and Ukraine is also a major exporter of grains
.
Any disruption to Black Sea grain exports could have a major impact on prices and further fuel food inflation
.
Four major global exporters - Ukraine, Russia, Kazakhstan and Romania - currently ship grain from Black Sea ports, which could face disruptions from any military action or sanctions
.
.
In 2021/22, Ukraine is expected to become the world's third-largest corn exporter and fourth-largest wheat exporter, while Russia is the world's largest wheat exporter, according to the International Grains Council
.
According to Ukrainian customs data, as of January 21, Ukraine's wheat exports in 2021/22 had reached 16.
574 million tons, an increase of 3.
727 million tons over the same period last year
.
.
According to Ukrainian customs data, as of January 21, Ukraine's wheat exports in 2021/22 had reached 16.
574 million tons, an increase of 3.
727 million tons over the same period last year
.
UBS analyst Dominic Schneider said geopolitical risks in the Black Sea region had risen in recent months, which could affect future wheat prices
.
.
Unfavorable weather in the U.
S.
Plains winter wheat producing areas
S.
Plains winter wheat producing areas
The U.
S.
winter wheat crop is overwintering
.
The weather is still dry in most parts of the Great Plains, especially in the southern plains
.
The drought in the southern U.
S.
plains has been worse over the past three months
.
In fact, dry winters are a feature of the Southern Plains
.
In Kansas, the No.
1 hard red winter wheat-growing state in the U.
S.
, Dodge City's median long-term winter precipitation is only about 1 inch
.
Since Dec.
1, 2021, the town of Ulysses in southwestern Kansas has received only 0.
05 inches of precipitation
.
For the entire Southern Plains, precipitation has been 30% to 80% below normal since October 1, 2021
.
S.
winter wheat crop is overwintering
.
The weather is still dry in most parts of the Great Plains, especially in the southern plains
.
The drought in the southern U.
S.
plains has been worse over the past three months
.
In fact, dry winters are a feature of the Southern Plains
.
In Kansas, the No.
1 hard red winter wheat-growing state in the U.
S.
, Dodge City's median long-term winter precipitation is only about 1 inch
.
Since Dec.
1, 2021, the town of Ulysses in southwestern Kansas has received only 0.
05 inches of precipitation
.
For the entire Southern Plains, precipitation has been 30% to 80% below normal since October 1, 2021
.
Weather forecasts suggest that up to 20 percent of the winter wheat crop is at risk of freezing to death due to cold weather
.
If the weather does not improve, it will affect not only the U.
S.
spring wheat plantings, but also the Canadian spring wheat
.
.
If the weather does not improve, it will affect not only the U.
S.
spring wheat plantings, but also the Canadian spring wheat
.
The U.
S.
Department of Agriculture's report earlier this month showed that the top winter wheat producing regions of Kansas and Oklahoma saw sharp declines in their ratings for winter wheat crops in December 2021
.
Kansas winter wheat was 33 percent good to good as of Jan.
2, down from 62 percent at the end of November and down from 51 percent on Dec.
12
.
Oklahoma, the second-largest wheat-producing state, was 20 percent in good to good condition, down from 48 percent at the end of November
.
S.
Department of Agriculture's report earlier this month showed that the top winter wheat producing regions of Kansas and Oklahoma saw sharp declines in their ratings for winter wheat crops in December 2021
.
Kansas winter wheat was 33 percent good to good as of Jan.
2, down from 62 percent at the end of November and down from 51 percent on Dec.
12
.
Oklahoma, the second-largest wheat-producing state, was 20 percent in good to good condition, down from 48 percent at the end of November
.
U.
S.
wheat export sales improve
S.
wheat export sales improve
The U.
S.
Department of Agriculture released its weekly export sales report showing that as of January 13, 2022, net sales of wheat in the United States for the 2021/22 season were 380,000 tons, 44% higher than last week and 62% higher than the four-week average
.
Year-to-date U.
S.
wheat export sales totaled 16.
53 million tons, down 22.
7 percent from a year earlier
.
S.
Department of Agriculture released its weekly export sales report showing that as of January 13, 2022, net sales of wheat in the United States for the 2021/22 season were 380,000 tons, 44% higher than last week and 62% higher than the four-week average
.
Year-to-date U.
S.
wheat export sales totaled 16.
53 million tons, down 22.
7 percent from a year earlier
.
Strong global wheat import demand
Global wheat market purchases remained active this week, with Japan's Ministry of Agriculture, Forestry and Fisheries (MAFF) buying 72,351 tons of edible wheat on Thursday, originating from the United States and Canada
.
Turkey's State Grain Directorate (TMO) made an initial purchase of 50,000 tonnes of wheat through an international wheat import tender that ended on Tuesday
.
Iran's Government Trading Company (GTC) bought 180,000 tonnes of milling wheat on Friday for shipments from February to March
.
On Friday, Algeria's national grain agency bought up to 570,000 tonnes of milling wheat through tenders, possibly from South America or the Black Sea
.
.
Turkey's State Grain Directorate (TMO) made an initial purchase of 50,000 tonnes of wheat through an international wheat import tender that ended on Tuesday
.
Iran's Government Trading Company (GTC) bought 180,000 tonnes of milling wheat on Friday for shipments from February to March
.
On Friday, Algeria's national grain agency bought up to 570,000 tonnes of milling wheat through tenders, possibly from South America or the Black Sea
.
