Precipitation is cooled wheat markets
a Decrease in air temperature and precipitation is predicted in the corn belt of the USA put pressure on the corn market, followed by cheaper wheat.
In Thursday trading on the American wheat markets ended the versatile. Second day in a row, the cheaper the July wheat futures in Chicago. Investors lock in profits after the 20th of June the price peaked last 2.5 years.
weekly Export sales exceeded expectations and amounted to 542,88 kt, restrict the fall in prices in Chicago.
July futures for U.S. wheat 22.06.17 had the following dynamics:
- 1.19 $/ton to 169,48 $/t cheaper winter SRW soft wheat in Chicago
- without changes at the level of 171,87 $/t remained solid winter HRW wheat in Kansas city
- by 2.76 $/t to 241,13 $/ton rose solid spring HRS wheat in Minneapolis.
At yesterday's tender Egypt purchased 175 thousand tons of wheat from the Romanian and Ukrainian origin, delivery period 25 July – 15 August.
the EU start harvesting barley and rape. Traders await the new crop of wheat and worried the issue of demand for relatively expensive European grain.
the Price of wheat in the EU decreased by 1.5 EUR/t to € 174/t