Wheat markets continue to grow
on Friday, the U.S. wheat market continued its growth. The driving force still is the forecast from the Agency Informa, which in 2017 year States would reduce the acreage under wheat and corn.
an Additional factor was the dry weather in some States, the manufacturers of wheat – Oklahoma, Kansas, Colorado.
the cost of the December futures for U.S. wheat rose
- 1.85 $/tonne to 149,91 $/tones of soft wheat SRW in Chicago
- at 1.85 $/tonne to 152,02 $/tone for hard wheat HRW in Kansas city
the European market is formed under the trend of the fall of the Euro against the dollar to the level of 1.06. The price of agricultural products in equivalent us dollar becomes more competitive due to such correction of the currency.
In Ukraine, the increase in wheat prices has stopped. This is due to the strengthening of the hryvnia on the interbank market 26-26,20 UAH/$ to 25.8 UAH/$ and falling corn prices as increasing supplies.
Demand from India as the main buyer of Ukrainian wheat in recent times, declined after financial reform. The country was seized banknotes in denominations of 500 and 1000 rupees, which accounted for 86% of the total cash mass. This reduced the purchasing power of the domestic market.
The price of Ukrainian wheat on the basis of CPT-port is: