U.S. wheat rose significantly at the end of the trading week
on Thursday the American wheat market has observed a rapid growth of quotations. Chicago speculators finally found occasion that gave the opportunity to win back losses the previous trading day.
Market perked up considerably against the background of increased export demand for wheat. Saudi Arabia announced a tender for purchase of 595 thousand tons of wheat. Syria signed an agreement to supply 1 million tons of Russian wheat.
Egypt, for a long time led "after the war", conducted the third in a short period of time a tender where purchased:
- 60 thousand tons of Russian wheat from Louis Dreyfus at a price 177,94 $/t FOB and freight rate of 9.05 $/ton = 186,99 $/t C&F
- 120 thousand tons of Romanian wheat from Ameropa company at a price 180,50 $/t FOB and freight rate of 6.50 $/ton = 187 $/ton C&F.
on Friday, the increase in the prices of soft wheat in Chicago continued. The main factor was the activity of speculators, who massively bought wheat and covered short positions.
the December U.S. wheat futures rose.
- 8.91 $/tonne to 154,69 $/tones of soft wheat SRW in Chicago
- by 7.08 $/tonne to 153,49 $/tone for hard wheat HRW in Kansas city
- 2.48 $/tonne to 194,19 $/tone for hard spring wheat HRS in Minneapolis.
European wheat has also increased in price to 163,75 Euro/ton to 179,86 $/ton.