Declining wheat stock quotes again put pressure on prices in Ukraine

The increase in the forecast for world wheat stocks in the USDA’s April report increased the pressure on stock quotes last week, and the continuation of negotiations between the US and Iran, although unsuccessful so far, gave hope for the restoration of shipping in the Persian Gulf and became an additional factor of pressure on prices. Wheat prices on US and Paris exchanges have been falling by 1-3% for the second week in a row, also contributed by increased rainfall in arid regions of the US. US stock market quotes fell by 2-2.1% yesterday, despite the USDA’s crop condition report, according to which the number of crops in good or excellent condition in the US decreased by 1% to 34% (47% last year). At the same time, spring wheat in the US was sown at 6% of the planned area, which is slightly lower than the 5-year average (7%). During the week, May wheat futures fell: According to the USDA’s FGIS, during April 3-9, wheat exports from the United States decreased by 6.44% compared ...