Weather factors determine the dynamics of prices for wheat
Monday trading in the wheat exchanges in the USA ended versatile. Soft wheat in Chicago after a day falling at the end of trading restored position. The beginning of the harvesting campaign launched down the price of hard winter wheat in Casas city. And the hard spring wheat in Minneapolis have continued to rise amid fears for the fate of future crops, caused by hot weather in areas of grain production.
the July wheat prices in the United States had the following dynamics:
- in Chicago soft winter SRW wheat remained at the level of 157,81 $/t,
- in Kansas city hard winter HRW wheat fell by 1.19 $/t to 158.00 $/t,
- in Minneapolis hard spring HRS wheat rose by 1.93 $/t to 216,42 $/t
French wheat started the week with a fall due to the strengthening of the Euro to a record for the last 7 months.
Recent rainfall in France have improved the condition of crops, which also affected wheat quotations.
- On the Paris MATIF milling wheat price has decreased by € 1/t to 165,25 € /t or 185,61 $/t
In Ukraine the price of wheat of the new harvest rose by $1/t Weather conditions are conducive to a good harvest of winter crops, but farmers are in no hurry to make deals. For the execution of contracts traders are actively buying wheat 2 KL of the old crop, the price of which in the port increased up to 167-170 $/t