Wheat: Black Sea market declines significantly

January 30, 2020 at 9:49 AM , Der AUDITOR
Play report as audio

FRANKFURT. The wheat market declined worldwide. Due to the spread of the coronavirus in China and other Asian countries, the trade fears low export orders to these countries. Especially the price decline on the Black Sea caused a sensation, rain forecasts with better yield expectations put the market under pressure. France is risking its competitiveness in North Africa by continuing strikes. The price trend in France and Germany has been rather weak recently.

In Chicago, wheat was quoted at USD 5.58 per bushel in the morning, which is 7 cents lower than yesterday. In Paris, wheat declined by EUR 1.50 to EUR 192.50 per metric tonne. On the Black Sea, the February date plummeted by USD 3.75 to USD 226.00 per metric tonne. From a US perspective, developments in Western Europe and the Black Sea Region remained the price drivers. A strong influence is exerted by the announced rainfall at the Black Sea, which should improve the partly weak growth level due to drought in Ukraine, where there is currently a lack of about 80 mm/sqm of precipita

View related articles

Go to the News Overview
Organic Commodities
Nov 12, 2024
ASUNCIÓN. As yields dropped to shockingly low levels for chia seeds in South America, the new season started off with a shock for the market. Silver lining is that things may change in December.
Grains
Oct 31, 2024
DALIAN/KYIV. Smaller acreages are causing a significant drop in production in Ukraine. Meanwhile, the EU was able to increase its total imports by 12% thanks to increased shipments from Kazakhstan.
Grains
Oct 30, 2024
DALIAN/KYIV. The new crop is causing prices to fall in China. In Ukraine, the average yield per hectare of the 2024 millet crop has fallen by 18% compared to last year.
Grains
Oct 17, 2024
LIMA. Favourable weather conditions and larger acreages led to an increase in quinoa production in Peru this year. In some regions, the crop was 85-90% larger than last year.