On forecasts of frost in the US stock market, wheat prices continued to rise

the Stock price of wheat, which would have to fall on the background of a fixed traders arrived after the recent surge, continue to grow as speculators decided to use a factor of inclement weather.

If a driver of growth was the European wheat, rose in price against the background of frost in France, yesterday increased significantly in the price of U.S. wheat on forecasts of dry and cold weather in the United States.

the price of wheat on US exchanges yesterday rose by 2.5-3% for data on drought in some regions of the American Plains and forecasts of frost in the regions of cultivation of wheat.

the May futures rose:

• by 6.71 $/t to month high 238,09 $/t for SRW soft winter-wheat in Chicago,
• by 6.89 $/t to 221,74 $/t for solid winter HRW wheat in Kansas city,
• by 4.41 $/t to 242,87 $/t on a firm spring HRS wheat in Minneapolis.

Weather factors had endorsed and prices for French wheat. Drought covers more countries of Europe, including the main producers of wheat. France, which already suffered from the cold, maybe until April 22 to remain without rain. In Germany until the end of April precipitation to be minor.

• the May futures for milling wheat on MATIF rose by another 3,25 €/t to 220,75 €/t or 264,31 $/t

the August futures black sea wheat on the stock exchange in Chicago yesterday also rose by 1.6% to 244 $/t, and the September – 1.4% to 246,5 $/t

against the background of rising world prices yesterday procurement prices for wheat in Ukraine also increased, especially for a new crop. Today, prices will continue to rise, however, is unlikely to exceed the level of 230 $/t for deliveries to the port.

bid Prices of the Argentine wheat for delivery in April remained at 240-250 $/MT FOB Up River, while the European thanks to the strengthening of the Euro rose to 250-260 $/MT FOB compared to 240-245 $/MT FOB black sea wheat.