Wheat is cheaper with better weather
Reduction of abnormally high air temperature in the United States and France, along with little rainfall have lowered the price of wheat exchanges, but were unable to save the damaged crops.
September futures Quotations of wheat in Chicago Friday continued to fall. Investors took profit after the price reach the maximum of 2.5 years.
Quotes of spring wheat steadily rise on the news about the deterioration of crops.
the July U.S. wheat futures fell.
- 0.55 $/t to 168,93 $/t for SRW soft winter-wheat in Chicago
- 1.29 $/t to 170,58 $/t for solid winter HRW wheat in Kansas city.
Only the hard spring HRS wheat in Minneapolis has grown by 1.84 $/t to 242,96 $/t
September futures French wheat continues to decline. Gradual weakening Chicago affects them stronger than the weather situation in Europe.
Fears traders for the fate of the new crop of wheat, caused by abnormal heat and drought begin to take hold. The Agency FranceAgrimer has significantly lowered estimates for soft winter wheat.
the Proportion of the crops of soft winter wheat in good to excellent condition fell to 68%, against 74% a week ago and 70% a year ago. For spring barley, this figure fell to 66% compared to 73% and 76%, respectively.
- September milling wheat quotations on the MATIF fell by 0.25 Euro/ton to € 173,75/t or 194,56 $/t