The drought in the U.S. recedes, but the cold in Europe are supporting the price of wheat
Precipitation is held in the USA, reduced the anxiety of traders over the fate of winter wheat crops.
Wheat exchange, the United States ended Friday's session lower quotations, except for Chicago, where prices have risen solely due to speculative purchases. Funds opened 10,2 thousand short positions.
After rapid growth the day before, during the last week wheat futures in Chicago fell to 1.8%, and in Kansas – 2.4%.
the Index of the weekly exports of wheat from the United States amounted to 328,9 thousand tons, which corresponds to the expert expectations.
March futures us wheat had the following dynamics:
fell 0.64 $/t to 172,33 $/MT of hard winter HRW wheat in Kansas city
dropped by 0.83 $/t to 220,73 $/t hard spring HRS wheat in Minneapolis.
- rose 0.37 $/t to 166,17 $/ton SRW soft winter-wheat in Chicago
the March of French wheat futures on Friday reached a maximum 6 weeks.
the Market supports the weak Euro and promised by forecasters frosts over Europe. Traders worried about the fate of winter crops in Eastern Europe, where the snow layer is very thin or absent.
- March delivery milling wheat on MATIF rose by 1.5 €/t to 163,25 €/t (200,83 $/t).
Spot prices of black sea wheat remained unchanged as demand from buyers declined after a sharp rise in price last week to the level of prices of European wheat.
Output in Ukraine, the snow fell, therefore, promised on Monday – Tuesday...cold in -15 -18 degrees should not damage the crops, and already from Wednesday weather forecasters promise warming and snowfalls.
