Because of the heat in the US, wheat prices increased by 4%
Due to active buying by speculators in wheat futures Friday, wheat prices in the U.S. rose sharply. September wheat futures in Chicago for the day jumped by 4.2%, while overall for the week by 4%.
the Reason for the price growth has forecast slight rain over the weekend in the southern regions of the wheat belt of the United States, on change which will come 10-day heat to 32-34 degrees.
July futures for U.S. wheat has increased:
by 7.26 $/t to 197,95 $/t for solid winter HRW wheat in Kansas city
by 5.23 $/t to 231,11 $/t on a firm spring HRS wheat in Minneapolis.
- 7,62 $/t to 190,42 $/t for SRW soft winter-wheat in Chicago
In Ukraine and Russia, the temperature dropped to 15-25 degrees and have been little precipitation. For the next ten days predict dry weather 25-26 degrees. So far, the winter wheat crops are in good condition, however, the lack of rainfall and drastic temperature changes will degrade the yield.
In good and excellent condition are now 78% of the crops of soft French wheat, which is 3% higher than last year. In the same condition are 80% hard durum wheat, while in 2017 year, the number was 67%.
However, the growth in wheat prices in the US and uncertainty with the fate of the harvest in Australia and Russia September futures milling wheat on MATIF rose 2.5 €/t to 176,75 €/t (207,7 $/t).