Few fundamental factors slowed down the market for U.S. wheat
on Monday, U.S. wheat sites was observed versatile dynamics of quotations. The price of soft winter wheat remained at the level of Friday and the hard winter wheat in anticipation of a good harvest several fell.
After a noticeable increase in the price of wheat in Chicago at the end of last week, when quotations rose by 9.28 $/ton, the market "remembered" finally the fundamental factors in the form of significant amounts of the world supply of grain. Besides, the players were waiting for the release of the next USDA report, which was to confirm the good condition of crops of winter crops.
July quotes of U.S. wheat on may 16 had the following evolution:
- in Chicago soft wheat SRW remained unchanged at the level 174,44 $/ton,
- in Kansas city 0.92 $/tonne to 166.63 kop $/tonne fell hard wheat HRW,
- in Minneapolis 0.64 $/ton to 197,40 $/ton rose hard wheat HRS.