Speculators continue to rock the price of wheat
Yesterday, U.S. wheat exchanges despite the lack of factors of support rose after the European due to the speculators who undermine prices, trying to boost trade.
on Wednesday, Algeria bought 450 thousand tons of soft wheat at prices 231,5-234 $/t C&F, which is 13.5 $/t cheaper than at the auction on February 14. French wheat accounted for the main share purchased by Algeria of the party and joined the winners of the tender in Tunisia.
- the results of the tenders in Algeria and Tunisia become the driver of growth of quotations of the European wheat, which in Paris yesterday have grown on 2,25 €/t to 187,75 €/t or 212,38 $/t
amid rising prices for European wheat speculators on Thursday in Chicago continued active purchases in anticipation of increased demand for the cheapest in the world of American wheat. However, export sales of wheat from the U.S. for the week decreased by 57% to 263 million tonnes, well below expert predictions.
May futures in the US had the following dynamics:
0.09 $/t to 160,38 $/t fell hard winter HRW wheat in Kansas city
0.73 $/t to 203.00 $/ton rose solid spring HRS wheat in Minneapolis.
- 2.02 $/t to 166,35 $/t increased winter SRW soft wheat in Chicago
Hope traders to enhance sales supports the growth of demand for wheat from importers.
This week, South Korea purchased 190 thousand tons and Japan – 116 thousand tons of wheat production of Australia, USA and Canada. Turkey has bought 290 tons of wheat with protein 13.5% price 238-245 $/t, while Bangladesh still negotiates the final price on the tender to purchase 50 thousand tons of wheat with the best offer from Agrocrop price 268,92 $/t CFR.