Prices 30/3/17

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In international markets we see Algeria picking up 200kt of durum wheat, the guess at the moment is this sale was made by Canada and the USA, most likely Canada but we should see further data on this May sale as the week unfolds, hopefully with a price and quality report attached. We also see the 50ktĀ  durum tender for Libya coming to a close at the end of this month, more on that as the winners are announced.

Good rain across the hard red wheat belt in the USA had little impact on the futures market as it had generally been factored into prices when it appeared on the modelling late last week. Falls over the last week have been excellent across central and eastern Kansas and the major wheat areas of Oklahoma and Texas. Central and eastern Kansas is expected to see around 60mm by weeks end.
Prospects in Russia also look good with many crops enjoying the unseasonably warm weather and good spring rainfall. Parts of the Krasnodar Valley saw 10 – 30mm of rain in the short term with heavier falls to the east and around the Black Sea fringe. Conditions in the Ukraine remain mixed but in general are shaping up ok at present. Further west Europe is generally also seeing the warmer weather allowing crops to take advantage of the recent rainfall. Spain appears a little drier and colder at the moment.

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