Warming in the United States gradually reduces the price of wheat

severe frosts in the regions of cultivation of winter wheat in the United States has allowed speculators in the past three trading sessions to significantly heat up the price and get a good profit. However, the buyers refuse to buy expensive wheat on the background of a large amount of global supply, as evidenced by the results of the latest tenders.

On forecasts of freezing up to 30% of crops in the agricultural areas of southern and Central Plains U.S. soft wheat in Chicago for two days increased by 8.82 $/t, updating a 2.5-week high. However, in the absence of confirmation of damages and promised for the next two weeks, warming investors began to record profits.

Additional pressure on prices, the strengthening of the dollar.

the March wheat futures in the U.S. fell:

• 4.96 $/t to 236,62 $/t for SRW soft winter-wheat in Chicago,
• by 4.78 $/t to 229,46 $/t for solid winter HRW wheat in Kansas city,
• at 3.03 $/t to 228,91 $/t on a firm spring HRS wheat in Minneapolis.

Prices for French wheat after a three-day growth yesterday turned down under the pressure of reducing the anxiety regarding the fate of the winter wheat crop in the United States and on the unsatisfactory results of the tender in Algeria, where he was purchased by a very small amount of wheat, although French production.

Grain Agency of Algeria (OAS) gained only 30 to 60 thousand tons of French soft wheat for delivery in March-April for the price of 321 321 $/t C&F, although usually buys at least 300 thousand tons, and in the previous tender, 27 Jan acquired 660 thousand tons of wheat at a price 312-314 $/t C&F.

• the March futures for milling wheat on MATIF fell by 1.5 €/t to 229 €/t or 275,73 $/t

Philippine Private company, who planned to tender on February 17 to by 145 thousand tons of milling and feed wheat, refused all offers, prices which were unreasonably high and exceeded 300 $/t C&F.

Purchase of Jordan Agency MIT party 60 thousand tons of Romanian wheat for delivery in September at a price of 272 $/t CFR allowed prices for black sea wheat of the new harvest to strengthen to 235-240 $/t FOB.

In Ukraine procurement prices for wheat old crop this week resumed in the port to 267-270 $/t, but further growth is limited, including due to an increase in supply from the manufacturers.