Bad weather in Europe pushes up wheat quotes
Quotes are French wheat on Friday continued its growth. The main driving force is concern for the future harvest of winter wheat. Analytical Agency vying to reduce forecasts gross grain harvest for the deterioration of productivity and distribution of plants of different diseases.
However, not only France suffered from a severe and prolonged rainstorms. Excessively wet weather spell over Germany, and gradually covers the East of the Balkan Peninsula and southern Russia. In combination with warm air creates conditions for the emergence and rapid spread of plant diseases.
At the Paris MATIF price for milling wheat at the September agreements increased by € 1.50/tonne to € 169,25/tone or 191,71 $/ton.
weather On the news from Western Europe, the market for U.S. wheat on Friday made a new jump up.
Significantly increased July quotes:
- the in Chicago by 4.32 $/tonne to 182,71 $/tones of soft wheat SRW,
- the in Kansas city by 3.49 $/tonne to 174,16 $/tone for hard wheat HRW,
- the in Minneapolis by 2.66 $/tonne to 198,23 $/tones hard wheat HRS.