The wheat market in the US is under strong pressure
on Thursday at the wheat site in Chicago, the rate of decline of prices has accelerated. Significant growth of the oil market and the cost of the commodity indexes are unable to support the market. Most commodity prices fell due to the reduction position funds at the end of the month.
a lot of pressure on the grain market news from the southern hemisphere, where it begins the active phase of the harvest. Australia expects record wheat crop, which will allow to restore the lost leadership position in the markets of East Asia.
there is Additional pressure from the corn market, which falls behind the poor performance of the weekly exports. Although the results of the export sales of wheat were also below the average expectations.
since 21.11.16 December futures wheat SRW has depreciated already by 14.24 $/t
December futures U.S. winter wheat fell:
- 3.31 $/tonne to 136,50 $/tones of soft wheat SRW in Chicago
- by 2.66 $/tonne to 141,09 $/tone for hard wheat HRW in Kansas city.
However, the 0.55 $/tonne to 198,78 $/ton rose hard spring wheat HRS in Minneapolis.