IKAR in Mass and Industry Media

U.S. wheat futures ease on increased Russian supplies

Reuters

CHICAGO, Sept 19 (Reuters) - Chicago Board of Trade wheat futures sank on Monday, pressured by increased production from Russia and a firmer U.S. currency that hampers U.S. exports, traders said.

* The benchmark CBOT December soft red winter wheat futures contract lost 29-1/4 cents to $8.30-1/2 a bushel.

* K.C. December hard red winter wheat futures ended down 25-1/2 cents at $9.09-3/4 a bushel, while MGEX December spring wheat futures fell 20-1/2 cents to close at $9.18-1/4 a bushel.

* Ukraine expects a 2022 grain crop of 50-52 million tonnes, unchanged from the previous estimate and down from 86 million tonnes last year, its agriculture ministry said.

* Russian agriculture consultancy IKAR raised its forecast for Russia's 2022 wheat crop by 2 million tonnes to 99 million tonnes. The world's largest wheat exporter will have 47.5 million tonnes of wheat potentially available for exports in the 2022/23 July-June marketing season.

* U.S. exporters readied 790,145 tonnes of wheat for shipment the week ended Sept. 15, up 4.27% from the week prior, the USDA said, and in line with analyst expectations, the U.S. Department of Agriculture said.

27.09.22

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