World wheat prices have recovered slightly after Friday's drop, but are still under pressure from news of the trade war between China and the United States.
Thus, on the US exchange on Friday, April 11, May wheat futures fell to $5.37 per bushel ($197 per ton) during trading, but closed at $5.54 ($203).
On Monday, April 14, trading opened at $5.505 per bushel ($202 per ton.)
On the domestic market of Kazakhstan, farmers are asking 82-85 thousand tenge/ton for class 4 wheat (including VAT, at the elevator). For ordinary class 3 grain - 90 thousand tenge/ton.
This is about 5 thousand tenge more than a week ago.
Such grain is exported with difficulty: Uzbek buyers are ready to pay $190 for the "four" (for the ordinary "three" $200). However, taking into account domestic prices, traders are not interested in such an export price - they work with it "at zero".
So, trade is sluggish. The market will stand still until either prices on the domestic market fall, or until buyers start offering $210 for grade 4 wheat.
The Food Corporation, which began actively selling grain on the Eurasian Trading System (ETS) exchange last week, provided support for prices on the domestic market.
On Friday, April 11, the offer for grade 4 wheat on the ETS was 88 thousand tenge / ton (EXW - at the elevator), for grade 3 wheat - from 90 to 97 thousand tenge / ton depending on the gluten content. Hi-pro wheat (gluten +27%) was sold at 130 thousand tenge/ton.
The offer for class 5 wheat was 80 thousand tenge/ton, for class 2 barley 88 thousand tenge/ton (EXW - at the elevator).