Good weather increases pressure on the wheat exchange
on Tuesday, U.S. wheat market continued to fall. May wheat futures in Chicago fell to the lowest in the last 6 weeks level.
the market continues to press the key to improving weather conditions that will contribute to the development of winter crops and improve yields. Weather forecasters promise that within the next 10 days almost all regions of the wheat belt in the U.S. will be precipitation.
May the wheat prices in the U.S. declined:
- in Chicago 1.38 $/tonne to 156,71 $/tones of soft winter wheat SRW,
- in Kansas city by 2.57 $/ton to 161,03 $/tones on hard winter wheat HRW,
- in Minneapolis by 3.67 $/ton to 197,77 $/tone for hard spring wheat HRS.
After the American exchanges falls and European market. Further pressure on prices strengthening of the Euro.
May milling wheat quotations on the MATIF fell by 0.50 Euro/ton to 170,75 Euro/ton or 184,57 $/ton, the lowest level for the last 7 weeks.