Thursday was marked by growth of stock quotes
on Thursday on the French wheat market has the highest daily growth rates for the past 6 weeks.
Such dynamics of quotations is caused, firstly, a two-day increase in the prices of soft wheat on the Chicago exchange. Secondly, the auction was impacted by the weakening of European currencies against the U.S. dollar. Thirdly, traders worried about a possible shortage of high quality wheat on the background of existing problems with quality of grain of new harvest. Already there are doubts about the ability of France to deliver the latest Algerian tender a large amount of wheat required quality.
September quotes milling wheat on the Paris MATIF rose by 3.00 euros/tonne to € 167,75/tone or 187,12 $/ton.
the Market for U.S. wheat on Thursday grew exclusively due to speculative component.
Supported the growth of quotations of neighboring markets of corn and soybeans, the activity of which is promoted by good prospects for exports in conjunction with the considerable decrease in production in Latin America.
Quotes of U.S. wheat for July rose agreements:
- the in Chicago by 4.32 $/tonne to 178,39 $/tones of soft wheat SRW,
- the in Kansas city by 3.12 $/tonne to 170,67 $/tone for hard wheat HRW,
- the in Minneapolis 1.29 $/tonne to 195,57 $/tones hard wheat HRS.