Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Asia Grains-Philippines buys feed wheat; Black Sea prices under pressure

Published 2019-04-26, 01:44 a/m
Updated 2019-04-26, 01:50 a/m
© Reuters.  Asia Grains-Philippines buys feed wheat; Black Sea prices under pressure

SINGAPORE, April 26 (Reuters) -

* Millers in the Philippines this week bought 55,000 tonnes of feed in a tender at $203 a tonne, including cost and freight, for shipment in August, traders said.

* Milling wheat from the Black Sea region with 11.5 percent protein was being offered between $210 and $215 a tonne, C&F, for August arrival, compared with $220 a tonne quoted earlier this month.

* "There are expectations of higher production in the Black Sea region, that is why prices are coming under pressure," a Singapore-based trader said.

* Chicago wheat lost ground on Friday with the market set for a third week of decline after an inter-governmental body increased its forecast for world supplies amid rising production in the Black Sea region. GRA/

* The International Grains Council on Thursday nudged up its forecasts for world wheat production in the 2019/2020 season, largely reflecting an improved outlook for Russia's crop.

* The inter-governmental body, in a monthly update, increased its global wheat crop forecast by 3 million tonnes to 762 million tonnes with Russia's production seen at 79.5 million tonnes, up from 77.1 million tonnes seen previously.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.