In the United States and Ukraine wheat prices are rising in the EU remain stable
on Friday, the futures of soft wheat in Chicago was unchanged, despite bearish fundamental factors of significant global supply.
the Market was supported by investors covered short positions, and alarming news about the upcoming heavy frost in the regions of the American Plains and Midwest, which is main producers of wheat. Experts fear for the condition of 20% of crops of hard winter wheat and 10% of the crops of soft winter wheat.
the March quotations of wheat on 16 December had the following dynamics:
- level 150,37 $/tonne has remained soft wheat SRW in Chicago
the Agency FranceAgrimer has reduced its previous forecast of wheat production with 28.15 million tone to 27.99 million. Due to the reduction of domestic exports ending stocks will increase from 2.48 million tons to 2.68 million tons.
Ukraine wheat prices increased by 50-100 UAH/t, especially in the ports, due to the depreciation of the hryvnia to UAH 26.3/$ and the need for traders to attract the necessary volumes to the start of the Christmas holidays .
- 2gr 161 to 165 $/t or 4850-4950 UAH/t,