Wheat in Chicago continues to fall
the Trading week on a wheat site in Chicago began with the fall, which continued the trend last week. Prices fall fourth trading day in a row.
the market pushes a huge volume of wheat stocks in the world and in USA in particular. On the background of the dollar continues to strengthen, investors have been speculative sales.
Even more pessimistic market players should add weak export prospects. On the USDA checked for further export only 221,985 thousand tons of wheat, which is almost twice lower than in the previous weeks (434 thousand tonnes) and expert expectations (325-525 thousand tons).
the cost of the December futures for U.S. wheat 28.11.16 had the following dynamics:
- 2.30 $/tonne to 143,11 $/ton depreciated soft wheat SRW in Chicago
- 0.09 $/tonne to 151,20 $/ton rose hard wheat HRW in Kansas city
- by 2.57 $/ton to 198,87 $/ton rose hard spring wheat HRS in Minneapolis.
for information about good sowing and good condition of winter crops in Europe wheat quotation on Euronext declined by 3.0 € /tonne to € 162,25/tone.
Traders reduce prices for Ukrainian wheat due to the inability to generate sufficient wheat for export due to logistical collapse, and small amounts of offers from sellers. However, in the market there are still deals at premium prices with fast delivery to the port, especially for delivery vehicles.
the Strengthening of the national currency on the interbank market to 25.6 UAH/$ also does not give prices additional support.
wheat Prices in Ukraine on the basis of CPT-port are:
- 2 KL - 160-162 $/ton or 4600-4850 UAH/ton,
- 3 KL - 156-160 $/ton or 4600-4850 UAH/ton,
- feed - 147-153 $/ton or 4350-4600 UAH/ton.