Main page   About us  |  Our news  |   Our services  |  Contacts
Main page Ikar.ru guide Feedback RSS       In Russian

GRAIN | FLOUR | CEREALS | SUGAR | OILSEEDS | FEEDSTUFFS & INGREDIENTS | MEAT | DAIRY
Search:  


ANALYTICS & NEWS

   IKAR in Mass Media
   Market prices
   Graphically speaking
   Market studies
   Exhibitions
   Partners
   Investment


WORK IN AGRICULTURE

   Vacancies
   Resume


   About us
   Our news
   Our services
   Contacts

IKAR in Mass and Industry Media


US MIDDAY: wheat jumps

Reuters, 30.08.18


US wheat futures rose nearly 4 percent Wednesday on technical buying and rumours that Russia might curb wheat exports, traders said. Soyabeans and corn followed wheat higher. As of 10:55 a.m. CDT (1555 GMT), Chicago Board of Trade December soft red winter wheat futures were up 20 cents at $5.43-1/4 per bushel. CBOT November soyabeans were up 5 cents at $8.38-1/4 a bushel and December corn was up 1 cent at $3.57-1/4 a bushel.

Wheat jumped on talk that Russia, the world's biggest wheat supplier, might curtail exports after a disappointing harvest this summer. Russia's agriculture ministry will meet grain exporters on Sept. 3 to discuss the market situation, two trade sources told Reuters. The US Department of Agriculture has projected Russia's 2018/19 wheat exports at 35 million tonnes.

"If wheat exports out of Russia are under 30 (million tonnes), that's something the market is going to sit up and take notice of," said Rich Feltes, vice president for research with R.J. O'Brien. Russian consultancy IKAR on Tuesday lowered its estimate of Russia's 2018 wheat harvest to 69.6 million tonnes from 70.8 million tonnes previously. The firm left its Russian wheat export estimate unchanged at 32.5 million tonnes.

Soyabean futures rose on a technical bounce after the benchmark November contract fell to $8.32, its lowest since setting a contract low of $8.26-1/4 on July 16. But prospects for a record-large US harvest hung over the market. The Pro Farmer advisory service last week projected the average US 2018 soyabean yield at 53.0 bushels per acre, a record high if realized.

Additional pressure stemmed from fears that African swine fever in China's hog herd could limit demand for soyameal. China's agriculture ministry said it cannot rule out the possibility of new outbreaks.



All viewing: 76
Discuss

Where The Margin Is
Annual Conference Agribusiness
media feedback

IKAR is a member of International research project Agri Benchmark from May 2010

Agri Benchmark

Putin Is Growing Organic Power One T-34 Tank-Tomato at a Time



Grain | Cereals | Sugar | Oilseeds | Feedstuffs & Ingredients | Meat | Dairy


IKAR. Institute for Agricultural Market Studies. www.IKAR.ru

© 2002-2019  
IKAR. Institute for Agricultural Market Studies
24, Ryazansky str., off. 604, Moscow, Russia
Tel/Fax: +7 (495) 232-9007 | www@ikar.ru |  Feedback

Rambler's Top100 Рейтинг@Mail.ru
Google translate: Google translate: Russian Google translate: German Google translate: French Google translate: Italian Google translate: Portuguese Google translate: Spanish Google translate: Turkish Google translate: Lithuanian Google translate: Chinese Google translate: Korea