The price of wheat in the United States and Europe has increased dramatically
On the background of delayed sowing in the U.S., wheat prices in Chicago yesterday rose sharply, while the quotations of the European wheat grew not so actively, under pressure from the outcome of the tender in Algeria.
the Algerian grain Agency (OAIC) on the tender on may 14 acquired 510 thousand tonnes of soft milling wheat mostly of French origin with delivery in July at a price 208-211 $/t CFR, which is much lower than the purchase price for the tender of 11 April, where it was purchased 540 tonnes of soft wheat for delivery in June.
- the September wheat futures in Paris rose yesterday for 1.75 €/t to 170,5 €/t or 191.1 $/t
U.S. wheat steadily more expensive for the second day in a row. The dollar was supported by data on the growth of wheat exports from the U.S. for the week by 56.7% to 842,4 thousand tons, which is 80.4% higher than the corresponding figure last year.
Published on Tuesday a report on spring wheat, soybeans and corn led to a jump in prices of 5-7%. According USDA as of may 12 spring wheat sown in the United States, only 45% of areas, compared with 67% on average for 5 years.
Dimensions IEG Vantage is expected to reduce the acreage under wheat in the United States to 12.4 million acres, which is 0.47 million acres inferior to the may forecast USDA.
the July wheat futures in the U.S.:
4.32 $/t to 150,19 $/t for solid winter HRW wheat in Kansas city
1.93 $/t to 192,26 $/t on a firm spring HRS wheat in Minneapolis.
- by 4.22 $/t to 164,79 $/t for SRW soft winter-wheat in Chicago