Wheat stocks frozen in anticipation of new reports
After the speculative rise on Monday, on Tuesday, the wheat quotations in the United States fell slightly. Investors lock in profits, as traders await Friday's USDA report on wheat production in the United States. Rains in the South American Plains give hope to receive a good harvest.
the December quotations of wheat in the US fell:
- soft wheat SRW in Chicago by 0.09 $/t to 166,72 $/t,
- for hard wheat HRW in Kansas city by 0.64 $/t to 164,17 $/t
- on a hard spring wheat HRS in Minneapolis by 1.01 $/t to 237,36 $/t
the Euro was supported by European exchanges. Investors continue to close short positions.
- December futures milling wheat on MATIF rose by 0.5 €/t to 166,5 €/t (195,97 $/t), which is the maximum of the last 6 weeks.
the Main importers understand that the price minimum is passed, therefore, stimulate the purchase of wheat. Price demand for black sea grain has risen by 3-5 $/t to 190-191 $/t FOB Black sea ports. That was the first time recorded an increase in wheat prices on the domestic market of the Russian Federation that fell under the pressure of an abundant harvest.
In Ukraine, the wheat continues to rise, and today in the ports of the offer:
- 2gr.. protein 12,5% 170-172 $/t or 5300-5350 UAH/t,
- 3 gr. protein 11.5% of 165-168 $/t or 5100-5250 UAH/t,
- feed 155-158 $/t or 4750-4850 UAH/t