Degradation of wheat drives the price up
In France the harvesting of soft wheat and spring barley entered the final stage. On July 24, has collected 85% of the soft wheat crop (against 63% a week ago). The collection of hard wheat ended Monday. Precipitation in Germany and Poland was reduced, and allowed to complete the cleaning, however, reduced the quality high protein wheat.
Ukraine has already collected 70% of the harvest and harvested 17 million tons of wheat, and in Russia, with 26% of the area harvested 31.7 million tons of wheat.
In the U.S., the harvest of winter wheat is nearly complete, while spring wheat, collected more than 30%. The condition of spring and durum wheat continues to deteriorate due to the heat.
Canada is now a solid crop of durum wheat in the main regions of production are the worst in 13 years as, due to the negative effects of drought and strong winds.
According to reports, as of July 24, only 21% of wheat crops in Saskatchewan was in good to excellent condition, and 30% in bad and very bad.
the Overall rate of crops are in good to excellent condition, in the whole country at the reporting date has decreased by almost 2 times compared to the level of the previous two weeks (43%), which is the worst result for the end of July, beginning in 2005.
on Friday, the wheat exchange in the United States rose on news of lower yields of spring wheat in the leading manufacturers - North Dakota (USA) and Canada.
September quotes of the American wheat have risen:
- soft wheat SRW in Chicago by 0.46 $/t to 176,73 $/t,
- hard wheat HRW in Kansas city remained at the level of 176,73 $/t,
- hard spring wheat HRS in Minneapolis by 1.47 $/t to 272,08 $/t
the Paris stock exchange rose after the American market, so the September quotes milling wheat went up by 1.50 €/t to 170,25 €/t (199.9 $/t).