Wheat on the U.S. stock exchanges continues to fall
on Friday at the U.S. wheat market, investors continued to take profits after Wednesday prices hit the highest for the last 7 months performance.
in addition, added to the pessimism the results of the Egyptian tender, which confirmed the lack of competitiveness of US wheat relative to black sea grain.
the tender in Egypt on 17 February the Agency GASC purchased 240 thousand tons of Russian milling wheat and 60 thousand tons of Romanian and Ukrainian wheat at a price 195-197 $/ton on FOB basis with delivery from 16 to 26 March.
on Monday the US celebrated President's Day, so exchange will not work.
March wheat prices in the U.S. fell:
- in Chicago by 2.48 $/tonne to 162,04 $/tones of soft winter wheat SRW,
- in Kansas city 0,64 $/tonne to 167,64 $/tones on hard winter wheat HRW,
- in Minneapolis 1.47 $/tonne to 200,71 $/tone for hard spring wheat HRS.
In Ukraine the price of wheat on the basis of CPT the port continued to grow:
- class 2 $167-170 or 5300-5350 UAH/t,
- class 3 $165-168 or 5200-5250 UAH/t,
- forage $155-160 or 4900-5000 UAH/t