Drought in the United States heats up wheat prices
Wheat exchange USA fifth trading day in a row up, due to the drought prevailing in the growing regions of winter wheat. Recall that according to the monitoring data USDA only 14% of crops are in good or excellent condition, whereas in December, the figure was 37%, and in January of last year, 44%. Forecasters warn that the dry weather will continue in the near future.
Chicago March wheat futures made new high on 25 October 2017, and of hard wheat in Kansas city – maximum September 29, 2017.
March U.S. wheat futures rose:
by 6.15 $/t to 172,60 $/t for solid winter HRW wheat in Kansas city
0.83 $/t to 226,34 $/t on a firm spring HRS wheat in Minneapolis.
- by 2.94 $/t to 168,01 $/t for SRW soft winter-wheat in Chicago
After Chicago's growing market for French wheat. The March futures increased to the highest since January 11, level. Experts predict a further slowing of growth through the good prospects for the future of the European wheat crop, particularly in the black sea region.
- March delivery milling wheat on MATIF rose by 2 €/t to 160,75 €/t (199,56 $/t).
In Ukraine, wheat prices in foreign currency remain unchanged, a fall in the dollar leads to a decrease of UAH purchase prices.
Today traders offer in the port for wheat:
with a protein of 11.5%, 170-171 $/t or 5700-5800 UAH/t,
feed 168-169 $/t or 5600-5650 UAH/t
- protein 12,5% 174-175 $/t or 5800-5900 UAH/t,