Asian importers are concerned about the rising wheat prices
Asian manufacturers of flour is concerned about the rise in world wheat prices as they are forced to pay for the delivered under the previous agreements the grain. Only during June, wheat prices increased by 30%.
On the Chicago Board of CBOT in June quotes soft winter wheat increased by 23%, and high-protein spring wheat 34%. The rapid increase in prices is due to extraordinary drought in the main production regions of the United States and Canada.
As a result, some Asian traders who had entered into agreements for the supply of wheat in August-September this year, will have to pay more for grain because of rising prices.
Recall that in the Asian region during June chervonoarmyska canadian Western spring wheat has risen from 260 up to $350/tonne on a C&F, and North American high-protein spring wheat from 280 to 370 $/t on a C&F.
a Significant increase in the price of American corn affected the price of Australian wheat, the price of which in June increased from 243 to 273 $/ton basis for C&F.