The beginning of the harvesting campaign in the United States slowed the growth in wheat prices
For four trading days wheat U.S. grain platforms is rapidly expensive. The main factor of price rise were the bad weather in Europe.
the Effect of this factor was observed on Tuesday, however, it has eased the beginning of the harvesting campaign in the United States.
According to the USDA NASS, June 5, American farmers have threshed 2 % of crops of winter wheat, whereas last year on the same date, the figure was 3 % and the average for five years – 10 %. Compared to the previous week as the wheat crop has slightly deteriorated. Now in good to excellent condition as are 62 % of the crops, whereas last week there were 63 % and on the same date in 2015 – only 43 %.
wheat Futures for the July contract rose:
- the 0.55 $/tonne to 187,02 $/ton in Chicago soft wheat SRW,
- the by 1.38 $/tonne to 178,20 $/ton in Kansas city for hard wheat HRW.
At the same time, the price of hard wheat HRS in Minneapolis remained at the level of 200,71 $/ton.