Frosts in the USA caused a rapid rise in wheat prices

2019-11-13 12:09:01
Machine translation
Frosts in the USA caused a rapid rise in wheat prices

Weather – the second influence on pricing trends factor after the antics of the tramp. Yesterday it led to a sharp rise in prices on all stock exchanges of the United States. To the wheat belt of the United States, including Western Kansas, suddenly came the 16-degree cold, which can lead to freezing of a considerable part of the crops of hard winter HRW wheat.

 

According to USDA, as of 10 November, winter wheat in the United States planted 92% of the area compared to 88% last year and 92% on average for 5 years at that date. Shoots were obtained on 79% of the area compared to 76% last year and 81% on average for 5 years. The number of crops in good or excellent condition for the week decreased by 3% to 54%, which corresponds to last year's level.

 

However, the speculators decided to use the weather factor for the heating market. First the news from forecasters responded to the exchange in Kansas city, then the growth picked up Chicago and Minneapolis.

 

Supported price data on exports of wheat from the United States, who this week grew by 44.4% to 528,875 thousand tons, exceeding expert expectations and 33% higher than the figure recorded last year.

 

Traders happy shipment one Panamax soft wheat in China, which activates the purchase of wheat from the United States.

 

the December wheat futures in the U.S.:

5.88 $/t to 161,21 $/t for solid winter HRW wheat in Kansas city

to 2.39 $/t to 191,71 $/t on a firm spring HRS wheat in Minneapolis.

  • by 4.13 $/t to 189,96 $/t for SRW soft winter-wheat in Chicago

 

After the American exchanges Paris area on Tuesday resumed growth. In addition, France next week, expect precipitation due to low temperature, and that will continue to delay planting.

 

  • the December futures for milling wheat on MATIF rose by €1/t to 178,25 €/t or 196,27 $/t

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