EU wheat eases as Black Sea supply hangs over market
Adds close
PARIS, July 24 (Reuters) -Front-month wheat futures on Euronext eased on Wednesday as export competition from Black Sea supply weighed on sentiment while traders sought further clues about the extent of losses in a rain-hit harvest in western Europe.
September wheat BL2U4 on Paris-based Euronext settled 1.1% down at 222.50 euros ($241.35) a metric ton, as it moved further from Monday's two-week peak of 227.50 euros.
Deferred positions on Euronext were mixed.
"I think the cheap prices in export markets offered by Black Sea exporters coupled with lack of demand from purchase tenders this week is overriding the concern about rain damaging French and possibly German harvests," one German trader said.
Russian 11.5% protein wheat for August Black Sea shipment was on Thursday around $210-$211 a ton FOB, Russian 12.5% protein was at $219-$220 a ton FOB.
In France, export activity remained light as the market awaited more harvest news as showers since the weekend kept field work slow in major northern crop belts.
"As we wait to see if the French crop will be 26 million, 27 million or 28 million tons say, we're simply not competitive for export," a futures dealer said.
Market estimates of the French harvest are well below the farm ministry's initial forecast of a soft wheat crop of 29.7 million tons, which was already 15% lower than last year.
In Germany, persistent rain was also slowing harvest progress and maintaining concern about loss of wheat quality, though many crops are not due to be gathered until August.
Traders were debating whether British and EU mills might turn to U.S. wheat.
“Quality problems in France and possibly Germany could generate European imports of U.S. wheat,” another trader said.
“This week, U.S. soft red winter for August Gulf shipment is about $25 a ton FOB cheaper than French 11%. At this level U.S. sales to Europe are certainly feasible.”
Financial investors increased their net short position in Euronext wheat last week, data published by Euronext on Wednesday showed.
($1 = 0.9219 euros)
Reporting by Gus Trompiz in Paris and Michael Hogan in Hamburg; Editing by Maju Samuel, Alexandra Hudson
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
