Wheat exchange, the United States fell due to the growth of the dollar
on Thursday the futures of soft wheat in Chicago declined. After 5 days of growth as investors decided to take profits.
Additional pressure on the bidding had the strengthening of the American currency. After the fed's decision to raise base interest rates by 0.25%, the dollar rose to the highest in 14 years against a basket of major currencies.
the March wheat prices have declined:
- 3.22 $/tonne to 150,37 $/tones of soft wheat SRW in Chicago
- by 2.66 $/tonne to 151,66 $/tone for hard wheat HRW in Kansas city
- 1.19 $/ton to 197,68 $/tone for hard spring wheat HRS in Minneapolis.
the European Agency Strategie Grains has raised its estimate of export soft wheat from EU countries in the season 2016/17 MG 170 thousand tons to 23.4 million tons versus 32.7 million ton the previous season. The rating increased because of greater than expected, exports of Romanian wheat to Asian countries.
it is Projected that ending stocks of soft wheat in the EU will amount to 11.5 million.
The increase in exports will contribute to the depreciation of the euro against the dollar to 1.04. European wheat prices rose 166,5yevro.