Wheat stock exchange reacted to the USDA report drop in prices
the August USDA report led to a rapid drop in the price of American wheat on Thursday and Friday. Most lost in the price of spring wheat in Minneapolis, which for two days has depreciated by 22 $/t.
Experts believe that the losses from drought in the North American Plains are not as significant as previously predicted.
the September wheat futures in the United States for two days fell:
- soft wheat SRW in Chicago by 7.44 $/t to 161,39 $/t,
- for hard wheat HRW in Kansas city by 8.27 $/t to 162,13 $/t,
- on a hard spring wheat HRS in Minneapolis by 22.05 $/t to 247,65 $/t
the Participants of the Paris stock exchange on Friday began to respond to a bearish USDA report. September milling wheat quotations on the MATIF moved down, but at the end of trading fell only 1.00 €/t to 160,50 €/t (189,53 $/t).
Traders see good prospects for French wheat, as compared with grain of other European exporters, it has good quality. However, so far inferior to more competitive black sea wheat.
Prices for Ukrainian wheat continued to decline under pressure of increasing global supply through the strengthening of the hryvnia against the dollar.
For today the purchase price with delivery in ports are:
- feed wheat 150-152 $/t or 4450-4600 UAH/t,
- wheat with protein 11.5% of 160-162 $/t or 4850-5000 UAH/t,
- wheat with protein 12,5% 169-174 $/t or 5150 5350 UAH/t