World wheat prices continue falling

Wheat futures continued declining against the backdrop of favourable weather conditions for the new crop in all producing countries, thus reduced the prices for the new crop and consumer activity for the previous wheat crop, GrainTrade reports.

Experts note that on the US stock exchanges, prices continued regressing on Thursday despite the positive data on wheat exports and sales over the past week. The main reason for the decline is the growth of wheat crop forecasts in Russia supported by the favourable weather.

According to the USDA weekly report, wheat sales within the week amounted to 317.7 thou. tons and export shipments reached the level of 500.3 thou. tons. Since the start of the season, 19.3 million tons of wheat have been exported accounting for 75 per cent of the forecast.

Active sales of the future crop, which on Sunday amounted to 227.79 thou. tons and increased the total sales to 1.622 million tons, almost 17 per cent more than on the corresponding date last season.

The infographic guide Agribusiness of Ukraine 2017/18 is available by the link.