American wheat is cheaper, while European – more expensive
After a modest growth in Friday from Monday the U.S. wheat market resumed its decline in prices.
the Main factor remains the harvesting campaign, the rate is significantly higher than last year. Now the crop is harvested with 25 % of the area, whereas a year ago it was treated just 17 %.
the fall of the markets of soybeans and corn are also influenced by the wheat quotations.
the price of wheat on the July agreements fell:
- the in Chicago by 3.03 $/tonne to 173,79 $/tones of soft wheat SRW,
- the in Kansas city 3.49 $/tonne to 165,80 $/tone for hard wheat HRW,
- the in Minneapolis on 2,20 $/tonne to 196,12 $/tone for hard spring wheat HRS.
Despite Chicago wheat in Europe has increased in price
on Monday the French wheat futures traded Chicago the opposite.
Thus the market reacted to the decline in forecast average yield of soft wheat in Germany and France through excessive rains and plant diseases. In the report monitoring Service MARS indicate that for France the next crop can be depleted.
the Strengthening of the Euro has to some extent limited the growth in wheat prices.
Prices for milling wheat on MATIF, the French at the September agreements increased by € 1.25/tonne to € 164,25/tone or 185,81 $/ton.