The wheat market continues to struggle speculators and importers

2017-07-10 12:54:13
Machine translation
The wheat market continues to struggle speculators and importers

Wheat quotes still depend on heat in the United States, where for the next week will remain the temperature of 36-40 degrees Celsius.

 

on Friday, wheat on the U.S. stock exchanges continued the decline that began yesterday. Investors took profits after the price has reached multi-year high.

 

Importers have hinted that the wheat market is too overheated. Weekly export sales of wheat in the United States amounted to 375,278 thousand tons, which is 23.7% less than the previous week, and 54.5% less than the level analogo period last year.

 

the September wheat futures in the U.S. fell:

the

  • 1.47 $/t to 196,58 $/t for SRW soft winter-wheat in Chicago
  • the
  • 1.29 $/t to 199,51 $/t for solid winter HRW wheat in Kansas city

 

European exporters started to create stocks of high protein wheat on a background of shortages in the United States.

 

the

 

Saturday's Egypt at the tender purchased 115 thousand tons of milling wheat of Russian origin, with delivery 10-20 August for higher than the previous week price. This reflects the fears of Egypt on further price increases.

 

In Russia and Ukraine wheat prices rose by $ 1-2 to the level of 185-190 $/MT on FOB basis for wheat with protein of 12.5%.