Weekly US wheat exports pushed prices up
After a day of break (Independence Day in the USA on Thursday), quotations on the Chicago Stock Exchange returned on Friday. Unexpectedly good data on weekly wheat exports in the United States (805,000 t) – the highest since December last year. translated into a strong increase in its quotations on the Chicago Stock Exchange. This, in turn, resulted in an increase in the prices of other grain contracts on both sides of the Atlantic.
In France, the condition of wheat is deteriorating
As a result, on a weekly basis, most grain contracts increased by over 3%. breaking somewhat of the weakness of the previous weeks. In France, the soft wheat harvest is already underway, while FranceAgriMer has noticed a deterioration in its condition. Next week (Friday), the latest monthly report will be published by the USDA on, among others: forecasts of the world grain balance in the current season.
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Wheat in the September delivery contract on MATIF rose by 1.2% on Friday. and cost EUR 228.25/t (PLN 978/t), and y/y the prices increased by 0.9%. During the week, the price increased by 1.6%. The price of corn on the Paris Stock Exchange in the August contract increased by 1.9%. and amounted to EUR 215.00/t (PLN 921/t), and over the last year it decreased by 4.2%. On a weekly basis, the prices increased by 3.5%.
Wheat on CBoT in the July contract increased by 3.2% on Friday. and cost USD 210.25/t. On a y/y basis, the prices fell by 11.6%. For a week, the price increased by 3.4%. The price of corn in the July delivery contract on the Chicago Stock Exchange increased by 1.9%. and amounted to USD 161.90/t, and over the last year it decreased by 27.6%. On a weekly basis, quotations increased by 3.5%.
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MATIF wheat, September contract – the price increased by 1.22% on Friday. (EUR 228.25/t – PLN 978/t).
Chart 1.
The quotations of September wheat futures contracts expressed in PLN are presented in the chart below:
Chart 2
In the continuation chart below of wheat contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is upward, and the short-term trend is upward.
Chart 3
CBOT wheat, July contract – price increased by 3.20%. ($210.26/t – PLN 832/t).
Chart 4
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The Chicago Stock Exchange is currently dominated by a long-term downward trend, a medium-term upward trend, and a short-term upward trend.
Chart 5
MATIF corn, August contract – the price increased by 1.90%. (EUR 215.00/t – PLN 921/t).
Chart 6
The quotations of August corn futures contracts expressed in PLN are presented in the chart below:
Chart 7
In the continuation chart below of corn contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is upward, and the short-term trend is upward.
Chart 8
CBOT corn, linden contract – price increased by 1.92%. ($161.90/t – PLN 641/t).
Chart 9
The continuation chart of corn contracts listed on CBOT is dominated by a long-term downward trend, a medium-term upward trend and a short-term downward trend.
Chart 10
