Wheat markets awaited the release of the USDA report
As of 08.09.17 in Russia, with 67.7% of the area sown with grain and legume acreage harvested to 104.8 million tonnes of grain. In particular, from 20.5 million hectares, accounting for 72.5 percent of the sown wheat acreage harvested 73.3 million tonnes of spring and winter wheat with an average yield of 35.8 t/ha.
Forecasts about the wheat crop in Russia, 80 million tons are becoming more real and the weather helps to ensure a good harvest.
Traders expect the publication of the USDA reports on production of wheat, especially of estimates for Australia and Canada. Soon wheat quotations will be influenced by excess supply of low protein wheat and the reduction in the production of highprotein wheat.
Friday the only place to stay in Chicago ended in the black. After two days of rising prices investors took profits and covered short positions.
the December quotations of wheat in the United States had the following dynamics:
- increased by 0.18 $/t to 160,84 $/ton, soft wheat SRW in Chicago
- has fallen in price on 0,09 $/t to 162,22 $/t hard wheat HRW in Kansas city
- has fallen in price on 1,10 $/t to 237,64 $/t hard spring wheat HRS in Minneapolis.
the French wheat Market on Friday continued to decline. Abundant harvests and the strong Euro continue to put pressure on prices.
- December futures milling wheat on MATIF fell by 0,75 €/t to 159,50 €/t (192,04 $/t).