Precipitation in the United States stopped the speculative growth of prices for wheat
After the jump of the prices for soft wheat in Chicago on the eve of the release of the report USDA 3% to 4-month high on Friday, investors continued to fix profit. The promised precipitation in the regions of cultivation of spring soft wheat in the background for a bear report led traders to reduce the amount of short positions that were bought with the purpose of speculation.
March U.S. wheat futures fell:
3.31 $/t to 171,04 $/t for solid winter HRW wheat in Kansas city
3.49 $/t to 221,74 $/t on a firm spring HRS wheat in Minneapolis.
- by 2.66 $/t to 164,98 $/t for SRW soft winter-wheat in Chicago
the French wheat cheaper after Chicago. However, prices were supported by the weakening of the Euro and the gradual rise in price of Russian wheat.
- March delivery milling wheat on MATIF fell by 0.75 €/t to 159 €/t (194,56 $/t).
the Optimism traders had provided the Egyptian tender where you purchased 120 thousand tons of Romanian and 240 thousand tons of Russian wheat. Compared to the previous trading, the purchase price rose 2.6 $/t to 222 $/t CFR or 208 $/t FOB.