Improvement of crops causes a drop in wheat prices
After the Easter holidays of futures winter wheat hastened the fall. In Chicago, soft wheat fell by 2%.
Powerful precipitation passed over the Midwest and Us Plains, what are the main wheat producers in the United States. Replenishment of moisture in the soil, and promised in the near future raise the temperature of the air will have a positive impact on winter crops.
USDA's latest report increased its estimate of the condition of winter wheat crops by 1 point. At the moment as 54% of crops is estimated as good and excellent. In the heading stage entered 19% of crops, which is 8% higher than last year's figure and 6% above the average for the last five years.
May the wheat prices in the U.S. fell:
- 3.22 $/tonne to 154,69 $/tones for winter SRW soft wheat in Chicago
- by 4.04 $/tonne to 152,94 $/ton for solid winter HRW wheat in Kansas city
- 0.55 $/tonne to 194,28 $/tonne for hard spring HRS wheat In Minneapolis.
European stock exchanges EURONEXT and CME auction will begin on Tuesday. Weather conditions over the EU also to promote the normal development of plants of winter wheat.
In Ukraine, the strengthening of the national currency led to the reduction in purchasing prices in the national currency on the basis of CPT – black sea ports. Today for wheat offer: