Wheat for Bread
FOB USD 247 ↑
|FOB||USD 245,00||USD 225,00||USD 219,00||USD 220,00|
|FAS||USD 203,70||USD 186,10||USD 175,60||USD 175,62|
Supply estimates for the new 2020 crop close to 21 million tons
The climatic situation in the wheat-producing countries; they put the price above
Multinational companies are selling in the future prior to the opening of the offer in the harvest that begins in September 2020
France cuts its estimate for wheat harvest again
PARIS, Sep 15 (Reuters) – The French Ministry of Agriculture lowered its estimate for this year’s soft wheat crop on Tuesday due to a further reduction in acreage, with output 25% below 2019 level. after a season marked by torrential rains and droughts.
In a monthly report, the ministry pegged this year’s soft wheat crop at 29.5 million tonnes, down from the 29.7 million tonnes estimated last month and 39.6 million in 2019.
Crops suffered heavy rains in the fall that hampered plantings, while yields were sharply reduced by a drought in the spring.
The common wheat planted area was estimated at 4.28 million hectares compared to 4.35 million last month and 14% less than the 5 million hectares estimated in 2019.
Meanwhile, the ministry cut its barley production projection to 11.0 million tonnes from 11.3 million last month, and left its forecast for 2020 grain corn production, excluding seeds, unchanged at 14 , 1 million tons. This would be 11% more than last year and 1% higher than the 2015-2019 average.