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S.
wheat exports
.
However, a report from the US Department of Agriculture last week showed that domestic wheat stocks fell to the lowest point in 14 years, and the supply of spring wheat was tight, which continued to support wheat prices
.
On Friday, the Chicago Board of Trade (CBOT) December soft red winter wheat futures fell approximately 21.
25 cents, or 2.
8%, from a week ago to close at 734 cents per cat
.
The December hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) closed at about 737.
50 cents per bus, down 22 cents or 2.
9% from a week ago
.
The December hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 946.
50 cents per bus, up 17.
5 cents or 1.
9% from a week ago
.
Euronext's December 2021 milling wheat period reported about 269 euros/ton, an increase of 4.
75 euros or 1.
8% from a week ago
.
The spot price of Argentine wheat was US$306/ton, up by US$6 or 2% from a week ago, FOB prices
.
25 cents, or 2.
8%, from a week ago to close at 734 cents per cat
.
The December hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) closed at about 737.
50 cents per bus, down 22 cents or 2.
9% from a week ago
.
The December hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at approximately 946.
50 cents per bus, up 17.
5 cents or 1.
9% from a week ago
.
Euronext's December 2021 milling wheat period reported about 269 euros/ton, an increase of 4.
75 euros or 1.
8% from a week ago
.
The spot price of Argentine wheat was US$306/ton, up by US$6 or 2% from a week ago, FOB prices
.
On Friday, the US dollar index closed at 94.
10 points, up 0.
1% from a week ago
.
10 points, up 0.
1% from a week ago
.
Data from the Food and Agriculture Organization of the United Nations (FAO) showed that world food prices rose for the second consecutive month in September, up 33% from the same period last year, setting a 10-year high due to rising grain and vegetable oil prices
.
The FAO Cereal Sub-Index rose 2.
0% month-on-month in September, as wheat prices rose nearly 4%
.
Due to the tight supply of wheat exports, strong demand has boosted wheat prices
.
FAO economists said that wheat will become the focus of the grain market in the next few weeks, because the rapid price increase will test demand
.
.
The FAO Cereal Sub-Index rose 2.
0% month-on-month in September, as wheat prices rose nearly 4%
.
Due to the tight supply of wheat exports, strong demand has boosted wheat prices
.
FAO economists said that wheat will become the focus of the grain market in the next few weeks, because the rapid price increase will test demand
.
FAO forecast this month that global cereal production in 2021 will reach 2.
8 billion tons, slightly higher than the 2.
788 billion tons predicted a month ago
.
However, this is lower than the global cereal consumption forecast of 2.
811 billion tons (up 2.
7 million tons from last month) because of the higher than expected wheat feed consumption
.
In 2021, global wheat production has been increased to 776.
7 million tons, which is 7.
2 million tons higher than the previous forecast, reflecting the higher than expected wheat yields in some Eastern European countries
.
Australian wheat production has also been adjusted upwards because of favorable weather
.
In addition, Canadian wheat production is not as low as previously expected
.
8 billion tons, slightly higher than the 2.
788 billion tons predicted a month ago
.
However, this is lower than the global cereal consumption forecast of 2.
811 billion tons (up 2.
7 million tons from last month) because of the higher than expected wheat feed consumption
.
In 2021, global wheat production has been increased to 776.
7 million tons, which is 7.
2 million tons higher than the previous forecast, reflecting the higher than expected wheat yields in some Eastern European countries
.
Australian wheat production has also been adjusted upwards because of favorable weather
.
In addition, Canadian wheat production is not as low as previously expected
.
The U.
S.
Department of Agriculture's crop progress report showed that as of Sunday, the planting progress of winter wheat in the United States was 47%, 1% higher than the five-year average, but lower than the industry's expectations of 49%
.
The emergence rate of winter wheat was 19%, higher than 9% a week ago, and slightly lower than the five-year average of 20%
.
Recently, some winter wheat producing areas have seen favorable rainfall, especially in nearly half of Kansas, the number one producing area, planting has been completed and wheat seedlings have begun to emerge
.
Rainfall has improved significantly in the past week, providing much-needed water for the emergence of wheat
.
S.
Department of Agriculture's crop progress report showed that as of Sunday, the planting progress of winter wheat in the United States was 47%, 1% higher than the five-year average, but lower than the industry's expectations of 49%
.
The emergence rate of winter wheat was 19%, higher than 9% a week ago, and slightly lower than the five-year average of 20%
.
Recently, some winter wheat producing areas have seen favorable rainfall, especially in nearly half of Kansas, the number one producing area, planting has been completed and wheat seedlings have begun to emerge
.
Rainfall has improved significantly in the past week, providing much-needed water for the emergence of wheat
.
The US Department of Agriculture’s weekly export sales report shows that for the week ending September 30, 2021, the US’s 2021/22 net wheat sales were 333,200 tons, 15% higher than last week, but 19% lower than the four-week average
.
So far this year, total US wheat export sales have reached 11.
408 million tons, a decrease of 21.
4% over the same period last year
.
.
So far this year, total US wheat export sales have reached 11.
408 million tons, a decrease of 21.
4% over the same period last year
.
This week, the Ministry of Agriculture of Ukraine lowered its 2021 cereal output forecast from 80.
63 million tons to 80.
25 million tons, as wheat production data was lowered from 32 million tons to 31.
55 million tons
.
The forecast data for corn and barley production remains unchanged, at 37.
1 million tons and 9.
4 million tons, respectively
.
Although the production data is lowered, the Ukrainian cereal export forecast for the year 2021/22 is revised up from 60.
68 million tons to 61.
45 million tons, because the wheat export forecast is revised up to 24.
51 million tons, which is higher than the earlier forecast of 23.
8 million tons
.
63 million tons to 80.
25 million tons, as wheat production data was lowered from 32 million tons to 31.
55 million tons
.
The forecast data for corn and barley production remains unchanged, at 37.
1 million tons and 9.
4 million tons, respectively
.
Although the production data is lowered, the Ukrainian cereal export forecast for the year 2021/22 is revised up from 60.
68 million tons to 61.
45 million tons, because the wheat export forecast is revised up to 24.
51 million tons, which is higher than the earlier forecast of 23.
8 million tons
.
Industry officials said that Indian wheat exports may increase significantly in 2021, reaching the highest level in eight years, as international wheat prices have soared and transportation costs have risen, making Indian wheat more attractive to Asian buyers
.
Nitin Gupta, deputy general manager of India’s Olam Agro company, predicts that India’s wheat exports this year will be 4.
2 million tons, the highest level since 2013
.
In the first eight months of this year, India’s wheat exports reached 3.
07 million tons, a 887% year-on-year increase due to good demand from Bangladesh, Sri Lanka, Indonesia, Nepal and the United Arab Emirates
.
.
Nitin Gupta, deputy general manager of India’s Olam Agro company, predicts that India’s wheat exports this year will be 4.
2 million tons, the highest level since 2013
.
In the first eight months of this year, India’s wheat exports reached 3.
07 million tons, a 887% year-on-year increase due to good demand from Bangladesh, Sri Lanka, Indonesia, Nepal and the United Arab Emirates
.
