Yesterday, stock exchange quotations for grain and oil crops fell by 2-7%

Grains and oilseeds fell on world markets yesterday, following oil prices and amid traders’ concerns about reduced demand due to the negative state of China’s economy.

November Brent crude oil futures fell 7.7% to $95.6/barrel from Monday, and fell to $91/barrel yesterday, but rose to $92.5/barrel in late trading, having lost a total since the beginning of the week. 11.3%.

Against this background, traders actively sold futures on grain and oilseeds, due to which the prices of wheat fell by 4.9-7%, soybean and rape – by 2%, and canola – by 2.9%.

In addition, the lack of US MSG data on weekly export sales is putting pressure on the market, since the agency was unable to launch the updated system and will use the old one for the time being, and the reports will begin to be published from September 15.

Yesterday, the main quotations on world exchanges fell:

• by 4.5% or $12.3/t to $284.9/t – September futures for soft winter SRW wheat in Chicago,
• by 7.5% or $22.3/t to $298.5/t – September HRW hard winter wheat futures in Kansas City,
• by 4.9% or $15.06/t to $321.6/t – September HRS durum wheat futures in Minneapolis,
• by 0.8% or $2.5/t to $313.5/t – September futures for Black Sea wheat in Chicago,
• by 1% or €3.5/t to €328.75/t or $327.5/t – September wheat futures on Paris Euronext,
• by 1.9% to $259.2/t – December corn futures in Chicago,
• by 2.9% to 812 CAD/t or $635.2/t – November canola futures,
• by 1.9% to €605/t or $603.7/t – November rapeseed futures on Paris MATIF,
• by 1.9% to $512.6/t – November soybean futures in Chicago.

Dry and warm weather will prevail in the US for 7 to 10 days, allowing farmers to speed up soybean and corn harvests, which will increase the supply of the new crop and put pressure on prices.

Tags: grain, prices, wheat, rapeseed