On the exchanges there is a speculative fall in the price of wheat
After the gradual growth of exchange prices of wheat during the last week, yesterday, traders began to fix profit and to sell futures, which led to decrease in quotations.
the Tenders in Egypt and Algeria showed that only lower prices will increase exports of American and European wheat.
- Under pressure from a strengthening Euro yesterday, March wheat futures in Paris fell to 1.75 €/t to a weekly minimum of 203,5 €/t or 234,35 $/t
U.S. wheat stocks on Thursday together began to fall. On the eve of the March futures for the soft wheat in Chicago rose to a maximum of 3 weeks, after which traders began to fix profit and to carry out speculative sales.
March wheat futures fell:
2.48 $/t to 183,26 $/t for solid winter HRW wheat in Kansas city
to 2.39 $/t to 207,23 $/t on a firm spring HRS wheat in Minneapolis.
- at 2.30 $/t to 188,77 $/t for SRW soft winter-wheat in Chicago
Prices on black sea wheat remain quite high, while the number of proposals is decreasing. Wheat protein 12,5% depending on the month supply offer 238-242 $/t FOB, wheat with protein 11.5 per cent at 235-239 $/t FOB coarse – 227-230 $/t FOB.