Wheat in Chicago is cheaper after the corn
on Tuesday trading on the U.S. wheat market has ended lower quotations, affected by the lack of fundamental news. But of greater importance was the sharp depreciation of the March transactions in the neighboring corn market, where investors booked profit after the previous three days of rising prices and unpredictability of further trade policy D. trump.
Experts fear that the revision of the free trade agreement with Mexico and Canada (NAFTA) and rejection of Pacific Trade Partnership may adversely affect the export of American grain. The Minister of economy of Mexico has warned that his country will be forced to withdraw from NAFTA in the case when revision of the agreement will have adverse consequences.
a Certain influence on the trading results provided the strengthening U.S. dollar. March quotes of the American corn fell to 142,32 $/ton.
However, wheat is still in an uptrend. In January soft wheat in Chicago rose by 6.89 $/ton.
Yesterday, March wheat prices in the U.S. declined:
- in Chicago by 2.39 $/ton to 156,80 $/tones of soft wheat SRW,
- in Kansas city at 1.10 $/tonne to 162,31 $/tone for hard wheat HRW,
- in Minneapolis 1.29 $/tonne to 206,04 $/tones hard wheat HRS.