U.S. wheat remains in a bearish trend
on Thursday the American wheat market tried to stop the decline observed for several days. In little time it managed to be made through speculative purchases. However, the basic factors influencing the price remained unchanged, therefore, the quotations continued to decline.
in addition to a good harvest and a record global grain stocks, wheat exchange yesterday pressed neighboring markets of soybeans and corn, where due to favourable weather conditions, the prices also went down.
the Fall in futures prices of soft wheat in Chicago is fixed for the 6th day in a row. The market ignored the good results of export of the week: sold 762,873 thousand tons of wheat of the new harvest, which is 2.4 times more than last season over the same period.
Prices for U.S. wheat for July fell agreements:
- in Chicago by 1.84 $/tonne to 173,61 $/tones of soft wheat SRW,
- in Kansas city by 2.21 $/ton to 165,62 $/tone for hard wheat HRW,
- in Minneapolis 0.46 $/tonne to 194,46 $/tone for hard spring wheat HRS.