The wheat exchanges recorded speculative rebound
six-day market decline of winter wheat in the U.S. on Thursday has changed in significant speculative rebound. Investors covered short positions and carried out by speculative buying.
Driver of the reversal was the news of the sale to Iraq of a large consignment of wheat. But the fundamental factors remain bearish: weather favors the development of winter crops, and the weekly wheat exports from the United States amounted to only 348 thousand tons.
the December futures for U.S. wheat has increased:
by 3.67 $/ton to 156,43 $/t for hard wheat HRW in Kansas city,
by 3.21 $/t to 228,82 $/t for hard spring wheat HRS in Minneapolis.
- by 2.94 $/t to 156,52 $/ton, soft wheat SRW in Chicago
French wheat followed Chicago also turned up, although on the eve of her quotes fell to a minimum of two months.
Support had to activate exports. In the ports of France upload a few ships that will deliver the wheat to Algeria, the countries of West Africa, and some European countries.
- December futures milling wheat on MATIF rose by 3.5 €/t to 163 €/t (190,03 $/t).