European wheat is cheaper under the pressure of Chicago
Followed by the Chicago stock exchange on Monday declined the quotations of the European wheat. Good pace of grain exports and the weakening of the Euro against the U.S. dollar failed to keep the market.
the Drop in prices was relatively small. Trading volume is still insignificant, activity on the part of traders is not observed. They believe that in 3-4 weeks will finally become clear perspective of the future harvest.
September quotes milling wheat on the Paris MATIF fell by 0.50 Euro/ton to 163.00 EUR/tone or from 182.49 $/ton.
Monday was the fourth day in a row when bidding for a wheat site in the Chicago end with a minus.
the American wheat market continue to put pressure bearish factors in the form of significant ending stocks of wheat and good forecasts of future crops in the world in General and USA in particular.
Wheat quotations on the July agreements was lower:
- in Chicago by 2.11 $/tonne to 169,75 $/tones of soft wheat SRW,
- in Kansas city 0.74 $/tonne to 164,24 $/tone for hard wheat HRW,
- in Minneapolis 1.47 $/tonne to 192,44 $/tones hard wheat HRS.