Wheat in the EU continues to rise and in the US is cheaper
After two days of growth, the market for American wheat continued to fall. It is caused by fears for the condition of crops through drought conditions in the South American Plains and the strengthening of the dollar to the highest in 7 weeks level.
in addition, for the second consecutive week reduced indicators of the weekly exports. During the week, it was only exported 353 thousand tons. Total exports of SRW wheat 26.5% less than last season. At the same time the rate of exports of hard spring and soft wheat considerably exceed last year's figures.
Total sales in the season 2016/17 MG in world markets for U.S. wheat is 37.2% higher than the previous season.
the March wheat prices in the U.S. fell
- in Chicago 1.29 $/ton to 158.73 $/tones of soft winter wheat SRW,
- in Kansas city is 1.93 $/tonne to 169,11 $/tones on hard winter wheat HRW,
- in Minneapolis to 4.78 $/tonne to 198,50 $/tone for hard spring wheat HRS.
In the EU, the price of wheat continues to rise and has now reached 175 euros/ton or 184,19 $/ton.
concern is the condition of the winter wheat plants in Western Europe after the winter of deficit precipitation. For transactions with delivery in September, the price rose to 174,75 Euro/ton.
In Ukraine, wheat prices remain at a fairly high level, although favorable weather conditions give hope for a good harvest. For the wheat of the new crop now offered 153-156 $/ton for deliveries to the port in August 2017.