Mumbai, 1 Apr (Commoditiescontrol): Chicago Board of Trade (CBOT) wheat futures eased on Monday amid report of multi-year high stocks.
CBOT wheat was down 0.31% at $5.58-1/2 a bushel.
The USDA in a separate quarterly grain stocks report said stocks of U.S. wheat rose to 1.087 billion bushels, a three-year high.
Egypt has targeted procuring 3.5 million tonnes of local wheat during the 2024 procurement season, the country's supply minister Aly Moselhy said.
Export Sales data from Thursday morning tallied wheat at a 6-week high of 339,596 MT for the week of 3/21. New crop sales were down slightly vs. the previous week at 212,805 MT. US wheat export commitments are now 97% of the USDA full year export projection, 3% below the 5-year average pace and now 4% larger than the same point last year. Actual shipments are running a little slower, with 72% of the USDA forecast fulfilled compared to the 79% average.
A vessel that was loaded by TD RIF, one of Russia's key grain exporters, has left a Black Sea port after its cargo was certified as being free of pests and disease. Rosselkhoznadzor, the country's agricultural watchdog previously said there was a jump in applications from importing countries saying cargoes of Russian grain were not meeting quarantine requirements, including a shipment of TD RIF. LSEG data confirmed that the 21,964-dwt vessel had left Russia's Black Sea Port Kavkaz.
Saudi Arabia issued tender to buy 595,000 metric tons of wheat for June-July arrival, its state wheat buying agency, the General Food Security Authority (GFSA) said.
The state of French soft wheat crops remained stable last week, although still at their worst in four years, data from farm office FranceAgriMer showed on Friday. Wet weather since autumn has disrupted planting and early crop development in France, the European Union's biggest grain producer, and other parts of western Europe.
(By Commoditiescontrol Bureau: 09820130172)
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