Prices for wheat on world exchanges rose sharply after the shelling of the port in Mykolaiv

Late last week, wheat prices fell amid talks between Turkey, Ukraine and Russia on unblocking Black Sea ports, but yesterday it became clear that the Putin regime will not help the world avoid hunger, but will increase other people’s dependence on missiles and bombs. .

Over the weekend, Russian missiles destroyed a warehouse with meal in the largest port of Mykolaiv – Nika-Teri, after which wheat prices on world exchanges rose by 4-5%, returning to the level of the previous week.

Yesterday futures rose:

• 5% or $ 19.47 / t to $ 401.6 / t – July futures for soft winter SRW wheat in Chicago,
• 4.4% or $ 18 / t to $ 429.9 / t – July futures for winter winter HRW wheat in Kansas City,
• 3.3% or $ 14.24 / t to $ 452.1 / t – September futures for drought spring HRS-wheat in Minneapolis,
• 3.6% or $ 14.5 / t to $ 413.5 / t – July futures for Black Sea wheat in Chicago,
• 5% or € 19.25 / t to € 397.5 / t or $ 424.4 / t – September wheat futures on Paris’ Euronext.

Prices were supported by the NASS USDA report, according to which as of June 5, 82% of spring wheat was sown in the United States, and seedlings were only 55% compared to 97% and 83%, respectively, on average over 5 years.

A new season has begun in the United States, and as of June 5, 5% of winter wheat has been threshed, compared to an average of 6%. The number of winter wheat crops in good condition for the week increased by 1% to 30% compared to 50% last year.

According to FranceAgriMer, in France the number of wheat crops in good or excellent condition for the week decreased by 2% to 67% due to a deficit of precipitation.

ASAJA experts believe that due to the heat and lack of rain in May, the winter grain harvest in Spain in 2022 will be reduced compared to the previous season by 21% or 4.1 million tons to 15.5 million tons, including soft wheat – up to 5 , 3 million tons, solid – up to 600 thousand tons, barley – up to 7.6 million tons, oats – up to 1 million tons, rye – up to 300 thousand tons, triticale – up to 600 thousand tons. Recently, grain production was estimated at 21-23 million tons of Spain is actively importing Ukrainian grain, so the reduction in production against the background of blocking exports from Ukraine will lead to rising prices for food and feed grain.

Rains have passed in Ukraine, which have improved the condition of winter and spring crops against the background of moderate temperatures, and this week the temperature is expected to rise and additional showers.

In Australia, the weather contributes to the formation of a good harvest, so the country is increasing wheat exports. According to the Australian Bureau of Statistics, in April wheat exports increased by 3% compared to March from 2.56 to 2.63 million tons, and in February-April reached 7.89 million tons, of which 1.8 million tons were delivered to China.

Tags: Turkey, prices, France, Spain, wheat, USA, Australia, Ukraine, China