American wheat: speculative trend was interrupted
the Movement, which is based on purely speculative factors, may not last long. Thursday ended a three-day dynamic growth of quotations on wheat American grain exchanges and the speculators have fixed their profits. During this period, may futures in Chicago rose on 16,35 $/ton.
May quotes of the U.S. wheat for April 21 fell:
- in Chicago on 3,12 $/tonne to of 182.15 $/tones of soft wheat SRW,
- in Kansas city for 1.75 $/tonne to 179,49 $/tone for hard wheat HRW,
- in Minneapolis 2.48 $/tonne to 199,70 $/tones hard wheat HRS.
Without the support of Chicago, European prices have also turned downward.
the Rising prices of Paris wheat in the last days took place mainly under the influence of the speculative rise in Chicago. European fundamentals in the form of good prospects on the future of the crop had more of a bearish influence.
After losing the support of the Chicago exchange, where he completed speculative growth and the players have fixed their profits, the quotes are French wheat also turned down.
quotations May milling wheat on the Paris MATIF fell by EUR 2.00/tonne to € 153,25/tone or 173,28 $/ton.