Chicago began the week with a noticeable drop wheat quotations
Trading week began with falling of quotations of winter wheat in the American grain exchanges. The main factor of the fall was Friday's USDA report with the assessment of the production and quarterly grain stocks.
However, if on Friday it had raised prices due to investor attention to a significant reduction in the production of hard spring wheat in conjunction with the deterioration in the quality of hard winter wheat, on Monday a significant impact both had in common stocks of grain, which became the largest since 1987. Besides, has not justified expectations that U.S. livestock producers will increase wheat consumption by reducing the consumption of corn.
Quotes for spring wheat are steadily growing due to the increasing demand for high-quality grain.
December quotes of the American wheat have decreased:
- to 2.39 $/ton to 145,32 $/tones of soft wheat SRW in Chicago