Hot weather forecasts on the US Plains warm up wheat prices

Precipitation that took place last week in areas of the Plains in the United States, was insignificant, and a new heat wave in 35-38 ^OhStarting this week, forecasts for the soybean, corn and spring wheat harvest in the states of North and South Dakota will continue to worsen. A severe drought in the northwestern United States and southwestern Canada next week will negatively affect the state of spring wheat crops.

Data on the state of crops in today's USDA report will be a new factor influencing quotes.

Wheat exchanges in the US on Friday grew on concerns about the adverse impact of weather in the US, EU and Russia on the future wheat harvest. September soft wheat futures in Chicago showed the largest weekly growth in 6 years, which was 1 19/ton.

September US futures rose:

• by 7 7.53 / ton to Чикаго 254.45/ton for soft winter SRW wheat in Chicago,
• by 4 4.13 / ton to H 239.38/ton for hard winter HRW wheat in Kansas City,
• by 8 8.54/ton to.337.03 / ton for hard spring HRS wheat in Minneapolis.

French wheat prices on Friday updated their monthly highs on news of droughts in the US and Canada and heavy rains in the EU, as well as lower production forecasts for Russia. Heavy rains delay harvesting in western Europe and worsen grain quality.

• September wheat flour futures for MATIF rose by €5.5/ton to €214.25/ton or € 253.03 / ton.

In Argentina, according to the Buenos Aires Stock Exchange, 96% of the planned areas are sown with wheat, and the future harvest due to good weather is estimated at 20.5 million tons.

In Ukrainian ports, purchase prices for food wheat increased by 3 3-5/ton to 2 212-218/ton or 6600-6650 UAH/ton, and for feed wheat – to 2 200-205/ton or 6200-6350 UAH/ton.

In Russia, wheat yields also exceed last year's, but are lower than the record figure of 2019.