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The main reason was that the rapid spread of the delta mutant strain caused concerns about global economic development.
The Federal Reserve may reduce monetary stimulus measures ahead of schedule.
, Triggering a sharp rise in the US dollar index, causing a drop in commodity markets including agricultural products markets
.
On Friday, the Chicago Board of Trade (CBOT) December soft red winter wheat futures fell 46 cents, or 5.
9%, from a week ago to close at 728.
25 cents per cat
.
The December hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) closed at approximately 715.
75 cents per bus, down 39.
25 cents or 5.
2% from a week ago
.
The December hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 902.
25 cents per bus, down 27.
25 cents or 2.
9% from a week ago
.
Euronext's December 2021 milling wheat period reported approximately 244.
50 Euros/ton, a decrease of 9.
75 Euros or 3.
8% from a week ago
.
The spot price of Argentine wheat is 290 US dollars/ton, up 7 US dollars or 2.
5% from a week ago, FOB price
.
The Zhengzhou Commodity Exchange's September 2021 wheat futures closed at about 2,773 yuan/ton, an increase of 1 yuan from a week ago
.
9%, from a week ago to close at 728.
25 cents per cat
.
The December hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) closed at approximately 715.
75 cents per bus, down 39.
25 cents or 5.
2% from a week ago
.
The December hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 902.
25 cents per bus, down 27.
25 cents or 2.
9% from a week ago
.
Euronext's December 2021 milling wheat period reported approximately 244.
50 Euros/ton, a decrease of 9.
75 Euros or 3.
8% from a week ago
.
The spot price of Argentine wheat is 290 US dollars/ton, up 7 US dollars or 2.
5% from a week ago, FOB price
.
The Zhengzhou Commodity Exchange's September 2021 wheat futures closed at about 2,773 yuan/ton, an increase of 1 yuan from a week ago
.
The minutes of the Fed’s policy meeting released on Wednesday showed that the U.
S.
central bank’s policymakers are considering curtailing monetary stimulus measures sometime this year, which pushed the U.
S.
dollar exchange rate to a nine-month high
.
The appreciation of the U.
S.
dollar makes U.
S.
dollar-denominated products more expensive for holders of other currencies
.
On Friday, the US dollar index closed at 93.
46 points, up 1% from a week ago
.
S.
central bank’s policymakers are considering curtailing monetary stimulus measures sometime this year, which pushed the U.
S.
dollar exchange rate to a nine-month high
.
The appreciation of the U.
S.
dollar makes U.
S.
dollar-denominated products more expensive for holders of other currencies
.
On Friday, the US dollar index closed at 93.
46 points, up 1% from a week ago
.
Harvesting of winter wheat in the United States has ended, and more than half of the harvesting of spring wheat has been completed
.
According to the weekly crop report released by the US Department of Agriculture, as of August 15, the US spring wheat harvest progress was 58%, compared with 38% a week ago, 28% in the same period last year, and a five-year average of 36%
.
The excellent and good rate of spring wheat was 11%, 11% last week and 70% in the same period last year
.
In its August supply and demand report, the U.
S.
Department of Agriculture predicted that the U.
S.
hard red spring wheat output this year would be only 305 million cats, a decrease of 42.
5% year-on-year
.
All wheat output is expected to be 1.
697 billion cats, a year-on-year decrease of 7.
1%
.
.
According to the weekly crop report released by the US Department of Agriculture, as of August 15, the US spring wheat harvest progress was 58%, compared with 38% a week ago, 28% in the same period last year, and a five-year average of 36%
.
The excellent and good rate of spring wheat was 11%, 11% last week and 70% in the same period last year
.
In its August supply and demand report, the U.
S.
Department of Agriculture predicted that the U.
S.
hard red spring wheat output this year would be only 305 million cats, a decrease of 42.
5% year-on-year
.
All wheat output is expected to be 1.
697 billion cats, a year-on-year decrease of 7.
1%
.
In the Black Sea region, Russian wheat export prices rose sharply last week because the US Department of Agriculture drastically lowered its forecast for Russian wheat production
.
According to consulting agency IAKR, as of August 13, the FOB price of 12.
5% protein Russian wheat for August shipping at Black Sea ports was US$287 per ton, an increase of US$20 from a week ago
.
SovEcon, another consultancy in Moscow, said that the price of wheat in Russia rose by US$18 to US$286 per ton
.
In the August supply and demand report, the U.
S.
Department of Agriculture significantly reduced Russian wheat production by 12.
5 million tons to 72.
5 million tons
.
.
According to consulting agency IAKR, as of August 13, the FOB price of 12.
5% protein Russian wheat for August shipping at Black Sea ports was US$287 per ton, an increase of US$20 from a week ago
.
SovEcon, another consultancy in Moscow, said that the price of wheat in Russia rose by US$18 to US$286 per ton
.
In the August supply and demand report, the U.
S.
Department of Agriculture significantly reduced Russian wheat production by 12.
5 million tons to 72.
5 million tons
.
This week SovEcon predicts that Russia’s wheat production in 2021 will be 76.
2 million tons, which is lower than the 76.
4 million tons previously expected because of the hot and dry weather in July and the decline in spring wheat yield in the Volga region
.
In Siberia and the Urals, the outlook for spring wheat yields is still uncertain because the harvest has not yet begun
.
2 million tons, which is lower than the 76.
4 million tons previously expected because of the hot and dry weather in July and the decline in spring wheat yield in the Volga region
.
In Siberia and the Urals, the outlook for spring wheat yields is still uncertain because the harvest has not yet begun
.
However, the outlook for Australian wheat production is bright
.
Sydney’s IKON Commodities Company (IKON) said that Australian wheat production this year will far exceed the official forecast, reaching 33 million tons, which is 3.
5 million tons higher than the previous forecast because of the two major wheat producing regions-New South Wales.
During the wheat growing period in Western Australia, the weather conditions were good, and the rainfall was much higher than average
.
The International Grains Council forecasts Australia’s wheat production at 28.
9 million tons, and the Australian Bureau of Agricultural Resources and Economics (ABARES) forecasted production in June at 27.
8 million tons
.
.
Sydney’s IKON Commodities Company (IKON) said that Australian wheat production this year will far exceed the official forecast, reaching 33 million tons, which is 3.
5 million tons higher than the previous forecast because of the two major wheat producing regions-New South Wales.
During the wheat growing period in Western Australia, the weather conditions were good, and the rainfall was much higher than average
.
The International Grains Council forecasts Australia’s wheat production at 28.
9 million tons, and the Australian Bureau of Agricultural Resources and Economics (ABARES) forecasted production in June at 27.
8 million tons
.
In Southeast Asia, due to high wheat prices, local feed processing plants are increasing the use of Australian feed barley to replace a small part of the demand for feed wheat
.
Since the beginning of this year, SMC has tried a small amount of feed barley, and it looks like it plans to include more feed barley in the feed formula
.
This is also consistent with the practice of other feed buyers in the Philippines
.
Vietnam is also greatly increasing its purchase of Australian feed barley, and is currently the fourth largest importer of Australian barley, because Vietnamese feed buyers are unwilling to purchase high-priced feed wheat and corn
.
.
Since the beginning of this year, SMC has tried a small amount of feed barley, and it looks like it plans to include more feed barley in the feed formula
.
This is also consistent with the practice of other feed buyers in the Philippines
.
Vietnam is also greatly increasing its purchase of Australian feed barley, and is currently the fourth largest importer of Australian barley, because Vietnamese feed buyers are unwilling to purchase high-priced feed wheat and corn
.
The Australian Bureau of Agriculture and Resource Economics and Science (ABARES) predicts that the output of wheat and barley in Australia will reach 27.
8 million tons and 10.
4 million tons respectively in 2021/22
.
But traders expect wheat production to be 32 million tons, or even as high as 35 million tons, because of widespread rainfall since the start of the planting window
.
8 million tons and 10.
4 million tons respectively in 2021/22
.
But traders expect wheat production to be 32 million tons, or even as high as 35 million tons, because of widespread rainfall since the start of the planting window
.
According to data from the General Administration of Customs of China, China's wheat imports in July 2021 were 880,000 tons, a decrease of 5.
2% year-on-year; from January to July, imports were 6.
25 million tons, a year-on-year increase of 45.
9%
.
China imported 770,000 tons of barley in July, an increase of 87.
1% year-on-year; from January to July, imports of 6.
42 million tons, an increase of 124.
8% year-on-year
.
2% year-on-year; from January to July, imports were 6.
25 million tons, a year-on-year increase of 45.
9%
.
China imported 770,000 tons of barley in July, an increase of 87.
1% year-on-year; from January to July, imports of 6.
42 million tons, an increase of 124.
8% year-on-year
.
