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