Fundamental factors contribute to the rise in price of wheat in the United States
For almost the entire week, speculators have swung the wheat market of the United States. But on Thursday, he came under the influence of the fundamental factors contributing to the significant growth of quotations.
On all platforms wheat prices reacted to the forecast of the Agency Informa, which in the following year, the United States will reduce the acreage under maize and wheat.
Supported rates good results of weekly export 513,75 thousand tons, which meet the expectations of the traders.
the cost of the December futures for U.S. wheat rose
- on 2,20 $/tonne to 148,07 $/tones of soft wheat SRW in Chicago
- is 1.93 $/tonne to 150,19 $/tone for hard wheat HRW in Kansas city
- by 3.03 $/tonne to 193,54 $/tone for hard spring wheat HRS in Minneapolis.
After Algeria acquired 580 thousand tons of soft wheat for delivery in January at a price slightly below $200/t CIF European wheat has risen to 164,75 Euro/tone.
Despite the drop in trading activity in Europe, the strengthening of the dollar against the Euro supports European prices of wheat as on Euronext and CME. Now they have returned to a maximum in the November-level.