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    Home > Food News > Food Articles > Global wheat markets: Wheat prices mostly down after Black Sea export deal signed

    Global wheat markets: Wheat prices mostly down after Black Sea export deal signed

    • Last Update: 2022-08-16
    • Source: Internet
    • Author: User
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    Foreign media July 24 news: Global wheat prices mostly fellin the week ended July 22, 2022 , mainly as Russia, Ukraine, Turkey and the United Nations signed a deal to resume exports from Black Sea ports , helping to ease supply concer.

    However, global importing countries are actively purchasing , indicating that the short-term downside is limit.
     
    On the Chicago Board of Trade (CBOT) September soft red winter wheat futures settled at around $59 a bushel on Friday, down 3% from a week a.
    September hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) settled at around $2025 a bush, down 2 percent from a week a.
    September hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) settled at around $71 a bushel, down 4 percent from a week a.
    Euronext's September 2022 milling wheat futures were at around €3275/tonne, up 1% from a week a.
    Argentine wheat spot offers were at $420/ton, down 9% from a week a.
    The.

    dollar index closed at 10621 on Friday, down 2 percent from a week earli.
     
    This week Russia, Ukraine, Turkey and the United Nations signed an agreement aimed at reviving agricultural exports from Black Sea ports, including Ukrainian grain, Russian grain and fertilize.
    Russia and Ukraine are both major grain exporters in the wor.
    If grain exports from Black Sea ports resume, it will help improve global supplies and ease the global food cris.
    However, Neil Roberts, director of the Lloyds Market Association in London, UK, said that transport security and insurance will be a key part of the future process, and many things remain to be resolved, and underwriters will need to assess shipping individual.
     
    Russia has a bumper wheat harvest this year, with production expected to hit a record level, boosting the pace of wheat expor.
    Russia has exported 2 million tonnes of wheat in the first half of July, already nearly double the amount in the same period a year earlier, the Russian Grain Association sa.

    Wheat prices fell sharply after the Russian government switched the calculation of export tariffs from dollars to rubles, making Russian wheat more competiti.

    The pace of exports so far shows that while Western sanctions have complicated Russian exports including insurance and transportation, they have not stopped Russia from exporting large quantities of whe.

     
    The July report released by Agriculture and Agri-Food Canada showed that Canada's all-wheat production in 2022/23 is expected to be 3719 million tons, an increase of 600,000 tons from the previous month's forecast, a year-on-year increase of about 5
    Exports for 2022/23 have been raised to 24 million tonnes from 22 million last month, also well above the previous year's 18 million, due to a sharp increase in wheat producti.

    Wheat ending stocks are forecast at 7 million tons, up from last month's forecast of 5 million tons and up 56 percent from a year earli.

     
    The.


    Department of Agriculture's weekly crop progress report showed that as of July 17, the.


    winter wheat harvest was 70 percent complete, compared with 63 percent last week, 71 percent a year earlier, and a five-year average of 71 perce.

    The.


    spring wheat good-to-good rate continued to improve and was higher than market expectations, reaching 71%, up from 70% a week ago, and well above the 11% in the same period last ye.

    The weather in the Great Plains has been hot and dry in the past week, and the weather in the coming week will remain sunny and dry, which is very favorable for the wheat harve.

    Following some rain last week, cooler-than-normal temperatures in North Dakota, the top.


    spring wheat-producing state, will be very favorable for the spring wheat crop in the coming we.

     
    The.


    Department of Agriculture's weekly export sales report showed net.


    wheat sales for the 2022/23 season of 511,100 tonnes for the week ended July 14, 2022, down 50% from the previous week and 10% below the four-week avera.

    As of July 21, the FOB price of hard red winter wheat in the US Gulf was US$381 per ton, the FOB price of soft red winter wheat was US$337 per ton, the quotation of first-class milling wheat in the French port of Rouen was US$370, and the FOB price of wheat in the Russian deep-sea port At $360 per ton, wheat in the Upper River region of Argentina was quoted at $420 per t.

     
    Argentina's wheat plantings in 2022/23 are forecast at 1 million hectares, down from an earlier forecast of 2 million hectares, the Buenos Aires Grain Exchange said on Thursd.

    At present, the wheat planting work is coming to an end, 98% complet.

    The.


    Department of Agriculture forecast Argentina's wheat production in July at 15 million tons, down 500,000 tons from the previous month's forecast and 12% lower than the previous year, due to low soil moisture and dry weather reducing the harvested ar.

     
    Consultancy Agritel on Monday forecast French soft wheat production in 2022/23 to fall to 325 million tonnes, mainly due to bad weather that reduced the harvested ar.

    In contrast, the first 2022/23 production forecast report released last week by FranceAgriMer, an agricultural office under the French Ministry of Agriculture, shows that French soft wheat production in 2022 is expected to be 3895 million tons, down 2% from 343 million tons in 202 FranceAgriMer said the French soft wheat harvest was 84 percent complete as of July 18, up from 50 percent a week earlier and above the level a year earli.

     
    The monthly report released by the International Grains Council shows that global wheat production in 2022/23 is expected to be 770 million tons, slightly higher than the 769 million tons forecast last month, but down 4% year-on-ye.

    Global wheat trade is forecast at 194 million tons, unchanged from last month's forecast and slightly down from 196 million tons in the previous ye.

    Global wheat ending stocks are forecast at 272 million tons, down slightly from last month's forecast of 273 million tons and down from 282 million tons in the previous ye.

     
    Recently, the price of wheat has continued to plummet, attracting importing countries to actively purchase 300,000 tons of whe.

    This week, the Pakistani government approved the purchase of 300,000 tons of whe.

    tons of wheat, mainly including Russia, France, Germany and Lithuania, bought another 120,000 tons of Russian and French wheat on Thursd.

    Two Filipino buyers bought feed wheat from Australia this week, following Friday's purchase of 110,000 tonnes of feed wheat by a Philippine import gro.

    wheat price export import purchase
     
    On the Chicago Board of Trade (CBOT) September soft red winter wheat futures settled at around $59 a bushel on Friday, down 3% from a week a.

    September hard red winter wheat futures on the Kansas City Futures Exchange (KCBT) settled at around $2025 a bush, down 2 percent from a week a.

    September hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) settled at around $71 a bushel, down 4 percent from a week a.

    Euronext's September 2022 milling wheat futures were at around €3275/tonne, up 1% from a week a.

    Argentine wheat spot offers were at $420/ton, down 9% from a week a.

    The.


    dollar index closed at 10621 on Friday, down 2 percent from a week earli.

     
    This week Russia, Ukraine, Turkey and the United Nations signed an agreement aimed at reviving agricultural exports from Black Sea ports, including Ukrainian grain, Russian grain and fertilize.

    Russia and Ukraine are both major grain exporters in the wor.

    If grain exports from Black Sea ports resume, it will help improve global supplies and ease the global food cris.

    However, Neil Roberts, director of the Lloyds Market Association in London, UK, said that transport security and insurance will be a key part of the future process, and many things remain to be resolved, and underwriters will need to assess shipping individual.

     
    Russia has a bumper wheat harvest this year, with production expected to hit a record level, boosting the pace of wheat expor.

    Russia has exported 2 million tonnes of wheat in the first half of July, already nearly double the amount in the same period a year earlier, the Russian Grain Association sa.

    Wheat prices fell sharply after the Russian government switched the calculation of export tariffs from dollars to rubles, making Russian wheat more competiti.

    The pace of exports so far shows that while Western sanctions have complicated Russian exports including insurance and transportation, they have not stopped Russia from exporting large quantities of whe.

     
    The July report released by Agriculture and Agri-Food Canada showed that Canada's all-wheat production in 2022/23 is expected to be 3719 million tons, an increase of 600,000 tons from the previous month's forecast, a year-on-year increase of about 5
    Exports for 2022/23 have been raised to 24 million tonnes from 22 million last month, also well above the previous year's 18 million, due to a sharp increase in wheat producti.

    Wheat ending stocks are forecast at 7 million tons, up from last month's forecast of 5 million tons and up 56 percent from a year earli.

     
    The.


    Department of Agriculture's weekly crop progress report showed that as of July 17, the.


    winter wheat harvest was 70 percent complete, compared with 63 percent last week, 71 percent a year earlier, and a five-year average of 71 perce.

    The.


    spring wheat good-to-good rate continued to improve and was higher than market expectations, reaching 71%, up from 70% a week ago, and well above the 11% in the same period last ye.

    The weather in the Great Plains has been hot and dry in the past week, and the weather in the coming week will remain sunny and dry, which is very favorable for the wheat harve.

    Following some rain last week, cooler-than-normal temperatures in North Dakota, the top.


    spring wheat-producing state, will be very favorable for the spring wheat crop in the coming we.

     
      The.


    Department of Agriculture's weekly export sales report showed net.


    wheat sales for the 2022/23 season of 511,100 tonnes for the week ended July 14, 2022, down 50% from the previous week and 10% below the four-week avera.

    As of July 21, the FOB price of hard red winter wheat in the US Gulf was US$381 per ton, the FOB price of soft red winter wheat was US$337 per ton, the quotation of first-class milling wheat in the French port of Rouen was US$370, and the FOB price of wheat in the Russian deep-sea port At $360 per ton, wheat in the Upper River region of Argentina was quoted at $420 per t.

     
      Argentina's wheat plantings in 2022/23 are forecast at 1 million hectares, down from an earlier forecast of 2 million hectares, the Buenos Aires Grain Exchange said on Thursd.

    At present, the wheat planting work is coming to an end, 98% complet.

    The.


    Department of Agriculture forecast Argentina's wheat production in July at 15 million tons, down 500,000 tons from the previous month's forecast and 12% lower than the previous year, due to low soil moisture and dry weather reducing the harvested ar.

     
      Consultancy Agritel on Monday forecast French soft wheat production in 2022/23 to fall to 325 million tonnes, mainly due to bad weather that reduced the harvested ar.

    In contrast, the first 2022/23 production forecast report released last week by FranceAgriMer, an agricultural office under the French Ministry of Agriculture, shows that French soft wheat production in 2022 is expected to be 3895 million tons, down 2% from 343 million tons in 202 FranceAgriMer said the French soft wheat harvest was 84 percent complete as of July 18, up from 50 percent a week earlier and above the level a year earli.

     
      The monthly report released by the International Grains Council shows that global wheat production in 2022/23 is expected to be 770 million tons, slightly higher than the 769 million tons forecast last month, but down 4% year-on-ye.

    Global wheat trade is forecast at 194 million tons, unchanged from last month's forecast and slightly down from 196 million tons in the previous ye.

    Global wheat ending stocks are forecast at 272 million tons, down slightly from last month's forecast of 273 million tons and down from 282 million tons in the previous ye.

     
      Recently, the price of wheat has continued to plummet, attracting importing countries to actively purchase 300,000 tons of whe.

    This week, the Pakistani government approved the purchase of 300,000 tons of whe.

    tons of wheat, mainly including Russia, France, Germany and Lithuania, bought another 120,000 tons of Russian and French wheat on Thursd.

    Two Filipino buyers bought feed wheat from Australia this week, following Friday's purchase of 110,000 tonnes of feed wheat by a Philippine import gro.

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