Wheat prices drop under pressure from speculative factors

Thursday the stock price for wheat in the EU and the United States fell under pressure of active sales, as investors after sharp jump of the prices recorded profits. Quotes are not supported even by a prolonged dock strike in France, and active export of wheat from the United States.

According to experts of the Grain exchange Buenos Aires, Argentina, where we finish wheat harvest, and produced 18.8 million tonnes, just 1% below the record of last season.

the Market for French wheat have updated to 1.5-year high, but could not resist at this level. Traders decided that the market is overheated, and this impairs the export competitiveness. Besides, against the background of high prices, farmers have stepped up sales.

Long strike of transport workers with the "bull" factor has become the "bear", because the deficit of grain to export ports of France, some traders began to close their export commitments with wheat from Germany.

the

• March futures for milling wheat on MATIF fell by 2.25 €/ton to 193 €/t or 214,99 $/t

Investors in the United States also began to fix their profits after the March wheat futures in Chicago reached the annual maximum. Traders are growing doubts that China will increase purchases of US wheat, as promised.

the Market ignored the good week of exports substantially exceeded expert expectations.

March wheat futures in the U.S. fell:

the

4.32 $/t to 178,11 $/t for solid winter HRW wheat in Kansas city

to 2.20 $/t to 202,18 $/t on a firm spring HRS wheat in Minneapolis.

• by 2.94 $/t to 207,69 $/t for SRW soft winter-wheat in Chicago