Forecasts of precipitation in the United States heated up wheat prices

After yesterday's speculative adjustment of prices due to cheaper oil and the escalation of tensions with Mexico, traders took into account the weather in the regions of cultivation of wheat in the United States, where during the next two weeks will be rain, especially in the main winter wheat – Kansas.

According to the report, NASS USDA, which announced after the close of trading, spring wheat in the United States planted 93% versus 96% on average for 5 years, and shoots were obtained on 69% of areas, compared with 84% on average for 5 years. In good or excellent condition are 83% of spring wheat, although last year the rate was 70%.

the Number of crops of winter wheat in good or excellent condition for the week increased by 3% to 64%, while on this date last year, the number was 37 percent.

the Main driver of growth in wheat prices was disastrous delay planting corn, which as of June 3 in the United States planted 67% of the area compared to 96% on average for 5 years. Experts are trying to assess the level of decline in production, which will inevitably happen.

the July wheat futures in the U.S.:

5,05 $/t to 178,85 $/t for solid winter HRW wheat in Kansas city

4.23 $/t to 207,05 $/t on a firm spring HRS wheat in Minneapolis.

• by 6.15 $/t to 190,97 $/t for SRW soft winter-wheat in Chicago

the Paris stock exchange yesterday were waiting for news from the United States and held steady. Pressure on prices the growth rate of the Euro against the dollar. According to France Agrimer, in good or excellent condition in France are 79% of wheat crops as last week.

In some regions of Russia has intensified the phenomenon of dry and hot weather that do not cause significant harm, however, can reduce yield, compared with current forecasts.

India is due to favorable weather conditions will increase wheat production in the current marketing year with 99,87 to 101.2 million tonnes.