The falling dollar contributes to higher U.S. wheat
on Tuesday, the futures of European wheat has gone up slightly in price after the next reduction of the forecast of wheat harvest in Germany-24.5 million tons.
Many traders are similar in the opinion that France in this season will not be able to take a competitive position in foreign markets. Even if the change of prices of French wheat will go to rise in price, it will not directly influence prices on other shopping sites. On the stock exchange MATIF milling wheat with posture in September added to the price of 0,84$, and is 184,12 $/ton.
As for American soft wheat, on Tuesday quotes of transactions for September for this position have increased slightly. The main reason for the price increase was the depreciation of the us currency to its lowest level over the last 7 weeks.
Forecasts the value of U.S. wheat with posture in September, as of 17 August:
- soft wheat SRW (Chicago) has risen in cost as $0.55 (price: 155,61 $/ton);
- hard wheat HRW (Kansas city) lost $0.18 (price: 151,11 $/ton);
- hard spring wheat HRS (Minneapolis) rose $0,46 (price: 189,78 $/tonne).