Wheat exchange, the United States responded to the increase in the prices of soybeans and corn
on Tuesday, the wheat quotations on the U.S. stock exchanges turned upward. This is despite the fact that in the may forecast balance experts USDA raised world ending stocks of wheat of the season 2016/17 MG to a new record level. Also increased wheat stocks in the United States.
first, investors focused not on the performance of stocks of wheat, and on the global production, which, according to the forecast, in comparison with the previous season will decrease by 7 million tons.
secondly, the wheat quotations were tightened after the markets of soybeans and corn, which balance may have a fundamental base for further growth. USDA analysts though slightly, but lowered the forecast corn ending stocks for next season and significantly, to 6 million tons, reduced inventory forecast for soybeans.
the June quotes of the American wheat grew:
- in Chicago for 1.75 $/tonne to 169,48 $/tones of soft wheat SRW,
- in Kansas city 0.73 $/tonne to 164,70 $/tone for hard wheat HRW,
- in Minneapolis 1.29 $/tonne to 196,12 $/tones hard wheat HRS.