Rains down world prices for wheat
the Drought has spread in the main areas of sowing of spring wheat in the United States has worsened the condition of crops and led to higher prices for wheat in the U.S. last week.
On 11 July, the Ministry of Agriculture (NASS USDA) reported the deterioration of the spring wheat is in good condition by 10% compared to last week to 45%, compared to 79% for the same period in 2016.
The projected decrease in temperature due to precipitation and Mnsg report for June has caused a fall in prices on the stock exchanges. In the report, experts claspbracelet US talking about the growth of production and residues of wheat in the next season. This prediction was a surprise to market participants , particularly for key grain suppliers, Russia and the United States of America. Now the weather in these countries is not conducive to the maturation of crops.
The price of wheat in the US with delivery in July has decreased significantly:
- Chicago: SRW, soft wheat – 159,47 $/t (down 4.32 dollar).
- Kansas city: HRV, hard wheat – 162,68 $/t (a decrease of 3.22 per dollar).
- Minneapolis: HRS, hard spring wheat – 220,64 $/t (-2,20 dollar).
FranceAgrimer notifies about the improvement of the situation in Europe, where as 75% of the sown wheat and 66% of winter barley are estimated as "excellent" and "good". Corn crops are estimated at 87%.
Euronext reduced to 188,3 $/t price of milling wheat for delivery in September.
In Ukraine, too, there is a decrease in grain prices of the old crop has almost reached the price level for new crop. Their value has remained unchanged for three weeks:
- Feed – from 4350 to 4450 UAH/t
- class 3 – 4700 UAH/t
- class 2 – 4800 UAH/t
Moderate temperature and sufficient rainfall provide favourable conditions for the ripening of grain crops in Ukraine.