Wheat prices grow due to excessive precipitation in the United States

Rain in the regions of cultivation of wheat in the United States impeded the sowing of spring crops and worsen the condition of winter crops. According to the report USDA on 26 may, the number of crops of winter wheat in good or excellent condition for the week decreased by 5% to 61%, which is 23% higher than last year on this date.

Almost 66% of the winter wheat crop entered the heading stage, whereas a year ago the figure was 71%, and the average over 5 years - 76%.

Spring wheat planted 84% of the projected area, compared to 89% a year ago and 91% on average for 5 years. Shoots were obtained on 47% of crops compared to 59% a year ago and 69% on average for 5 years.

After a sharp jump in prices on Friday, the July wheat futures in Chicago on Tuesday continued to rise and reached the maximum of 3.5 months. Another wave of showers that weekend in the areas of the wheat belt of the US, has increased the risks of deterioration of quality of grain of a new crop and delayed sowing.

For the week, wheat exports from the United States decreased from 41% to 494,097 thousand tonnes, 10.7% more than last year.

the July wheat futures in the U.S.:

by 6.89 $/t to 169,29 $/t for solid winter HRW wheat in Kansas city

3.49 $/t to 204,84 $/t on a firm spring HRS wheat in Minneapolis.

• 5,60 $/t to 185,46 $/t for SRW soft winter-wheat in Chicago

September futures of French wheat on Tuesday after Chicago continued to rise and reached the highest since February 13. Traders concerned about the possible deterioration of winter wheat and the breakdown of the seed due to prolonged rainfall.

• September futures for milling wheat on MATIF rose by 2.75 €/t to 184,75 €/t or 206,29 $/t