Despite falling oil markets, wheat prices are rising
In Friday trading on the wheat exchanges of the USA closed with a plus due to adverse weather conditions in areas growing winter wheat on the background of investors closing short positions ahead of the long weekend.
the July wheat prices in the U.S. rose
- in Chicago for 2.8 $/t to 161 $/t for SRW soft winter-wheat,
- in Kansas city 2,3 $/t to 160,8 $/t for solid winter HRW-wheat,
- in Minneapolis at 2.4 $/t to 209 $/t on a firm spring HRS wheat.
the rate of the Euro against the dollar remains at the level of 1,118-1,12, which worsens the rate of export from the EU. According to the European Commission during the week were exported only 96,863 thousand tons of wheat.
against the background of high air temperature and lack of rain in France wheat prices on Friday rose by 0.75 Euro/ton to 167,5 EUR/ton or of 187.2 $/t for deliveries in September. Powerful rains, which meteorologists promise at the end of the week, will be able to improve the condition of crops.
In Ukraine, the weather contributes to the formation of a good crop of wheat. However, manufacturers report that this year the yield will be lower than the record figure last year.