Unfavourable weather pushes up quotes of the American wheat

2016-05-18 13:03:16
Machine translation
Unfavourable weather pushes up quotes of the American wheat

After a slight respite yesterday, on Tuesday, the market for U.S. wheat began to grow. Now the players ' attention focused on spring wheat.

 

first, investors drew attention to the lagging pace of the sowing campaign from last year. Now planted 89 % of the projected area, whereas last year the figure was 92 %. Germination of crops is 60 %, which is also behind last year's 63 %.

 

secondly, there is a likelihood that the wheat harvest in the Midwest and the South American Plains may suffer as a result of cold and wet weather.

 

in addition, the wheat market has been supported by the markets of soybeans and corn, which continue to grow under the influence of a significant reduction of forecasts on the harvest of these crops in Latin America.

 

July quotes U.S. wheat rose:

  • in Chicago by 2.57 $/ton to 177,01 $/tones of soft wheat SRW,
  • in Kansas city 1.56 $/tonne to 168,19 $/tone for hard wheat HRW,
  • in Minneapolis 0.74 $/tonne to 198,14 $/tones hard wheat HRS.