Precipitation is again collapsed the stock price of wheat in the United States
the Rainfall that passed over the whole territory of the United States improved the condition of crops of wheat and corn, which had a direct impact on the stock price.
On the wheat market also pressured neighboring markets of soybeans and corn, the decline of which is due to increased global trade wars.
the July wheat futures in Chicago yesterday fell another 3% and fell to 3-week low.
against the backdrop of huge world stocks of wheat traders do not pay attention to possible problems with the harvest in Australia and Russia. ABARE Australian Agency reduced the forecast of wheat production in 2018 to 21.9 million tons, while experts USDA in June estimated it at the level of 24 mln tons.
the strengthening of the dollar against a basket of world currencies further pressure on world grain markets.
the July wheat futures in the U.S. fell:
6.16 $/t to 191,89 $/t for solid winter HRW wheat in Kansas city
by 2.57 $/ton to 212,19 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.51 $/t to 184,27 $/t for SRW soft winter-wheat in Chicago
Quotes European wheat from falling behind the us kept a sharp depreciation of the Euro against the dollar to the level of 1,156.
- September futures milling wheat on MATIF remained at the level of 180,25 €/t, however, the dollar price fell from 212,57 to 208,54 $/t