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The weakening of global economic concerns and the gradual recovery of U.
S.
Gulf exports are also supportive to prices
.
On Friday, the Chicago Board of Trade (CBOT) December soft red winter wheat futures rose about 15 cents or 2.
1% from a week ago, to close at 723.
75 cents per cat
.
The December hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) closed at approximately US$719.
75 per bus, up US$6.
75 or 0.
9% from a week ago
.
The December hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 916 cents per bus, up 15.
5 cents or 1.
7% from a week ago
.
Euronext's December 2021 milling wheat period reported about 253.
25 euros/ton, an increase of 5.
5 euros or 2.
2% from a week ago
.
The spot price of Argentine wheat was US$298/ton, up US$6 or 1.
7% from a week ago, FOB price
.
1% from a week ago, to close at 723.
75 cents per cat
.
The December hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) closed at approximately US$719.
75 per bus, up US$6.
75 or 0.
9% from a week ago
.
The December hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 916 cents per bus, up 15.
5 cents or 1.
7% from a week ago
.
Euronext's December 2021 milling wheat period reported about 253.
25 euros/ton, an increase of 5.
5 euros or 2.
2% from a week ago
.
The spot price of Argentine wheat was US$298/ton, up US$6 or 1.
7% from a week ago, FOB price
.
On Friday, the US dollar index closed at 93.
28 points, up 0.
1% from a week ago
.
28 points, up 0.
1% from a week ago
.
This week, the International Grains Council (IGC) lowered its forecast for global wheat production in 2021/22 by 1 million tons, to 781 million tons, due to lower production in the European Union and Canada, but part of the decline was offset by the increase in Australia and Ukraine
.
.
The US Department of Agriculture’s weekly export sales report shows that for the week ending September 16, 2021, the US’s 2021/22 net wheat sales were 355,900 tons, a decrease of 42% from last week, but an increase of 1% from the four-week average
.
So far in the 2021/22 year, the total export sales of U.
S.
wheat has reached 10.
7847 million tons, a decrease of 20% over the same period of the previous year
.
.
So far in the 2021/22 year, the total export sales of U.
S.
wheat has reached 10.
7847 million tons, a decrease of 20% over the same period of the previous year
.
In the Black Sea region, this week SovEcon, a Russian agricultural consulting agency, raised the forecast of Russian wheat production in 2021 by 200,000 tons to 75.
6 million tons, because of the good yield in Siberia
.
However, this will still be lower than the 85.
9 million tons in 2020
.
However, IKAR recently lowered its forecast for wheat production in Russia in 2021 from the previous 77 million tons to 74-75 million tons, due to the decline in production in several regions
.
Russian farmers are harvesting wheat in 2021, and the yield is lower than last year because of the dry weather
.
6 million tons, because of the good yield in Siberia
.
However, this will still be lower than the 85.
9 million tons in 2020
.
However, IKAR recently lowered its forecast for wheat production in Russia in 2021 from the previous 77 million tons to 74-75 million tons, due to the decline in production in several regions
.
Russian farmers are harvesting wheat in 2021, and the yield is lower than last year because of the dry weather
.
Last week, Russian wheat export prices rose for the 10th consecutive week, as the prospect of tight global wheat supplies boosted wheat prices
.
According to the consulting agency IAKR, as of September 17, the FOB price of Russia's 12.
5% protein wheat at the Black Sea port was US$301 per ton, and it was supplied in early October, up by US$1 from a week ago
.
Consulting agency SovEcon said that the price of wheat in Russia rose by US$1.
50 from the previous week to US$304.
5 per ton
.
As the price of wheat rises, coupled with high export tariffs, continue to restrict Russian wheat exports
.
Russian wheat exports in July amounted to 1.
8 million tons, a decrease of 21% year-on-year
.
.
According to the consulting agency IAKR, as of September 17, the FOB price of Russia's 12.
5% protein wheat at the Black Sea port was US$301 per ton, and it was supplied in early October, up by US$1 from a week ago
.
Consulting agency SovEcon said that the price of wheat in Russia rose by US$1.
50 from the previous week to US$304.
5 per ton
.
As the price of wheat rises, coupled with high export tariffs, continue to restrict Russian wheat exports
.
Russian wheat exports in July amounted to 1.
8 million tons, a decrease of 21% year-on-year
.
This week, CBOT oat futures prices soared to the highest level in seven and a half years, which also boosted the bullish sentiment in the wheat market
.
This year, the oats in Canada and North Dakota and Montana in the United States suffered severe drought damage, and the output fell sharply
.
Statistics Canada said that as the world's largest exporter of oats, Canadian oat production this year is expected to be 2.
6 million tons, a year-on-year decrease of 43.
6% due to drought
.
At the same time, the new crown epidemic has prompted consumers to switch to healthier foods, boosting the demand for oats to further increase
.
Soaring oat prices may cause oats to compete with spring wheat for arable land next year
.
.
This year, the oats in Canada and North Dakota and Montana in the United States suffered severe drought damage, and the output fell sharply
.
Statistics Canada said that as the world's largest exporter of oats, Canadian oat production this year is expected to be 2.
6 million tons, a year-on-year decrease of 43.
6% due to drought
.
At the same time, the new crown epidemic has prompted consumers to switch to healthier foods, boosting the demand for oats to further increase
.
Soaring oat prices may cause oats to compete with spring wheat for arable land next year
.
The US Department of Agriculture's weekly crop progress report shows that as of September 12, the planting of winter wheat in the United States has completed 21%, and the five-year average for the same period is 18%
.
The winter wheat planting progress in Kansas, the number one producing region, is 13%, and the five-year average is 11%
.
The national winter wheat emergence rate is 3%, and the five-year average is 2%
.
.
The winter wheat planting progress in Kansas, the number one producing region, is 13%, and the five-year average is 11%
.
The national winter wheat emergence rate is 3%, and the five-year average is 2%
.
