Extreme cold heat wheat markets

Wheat area in Chicago started the week with a growth.

Driving force was the risk to crops caused by strong frosts in the United States and some European countries, including Romania, Bulgaria, Ukraine and Russia.

March wheat futures rose.

• 1.47 us $/ton to 156.98 $/tone on SRW soft wheat in Chicago
• 1.84 $/tonne to 161,12 $/tone for HRW hard wheat in Kansas city
• 2.57 $/ton to 205,67 $/tone on a solid spring HRS wheat in Minneapolis.

Latest data from the European Commission show a moderate rate of export of grain at the end of last year. Exports from Europe exceeded 12.8 million tons, from France – reached 2.4 million tons. Last week, Algeria bought 475 thousand tons of soft wheat at a price 198-202 $/t CIF, probably Argentine and European descent. The price of wheat on Euronext rose to 171 Euro/ton.

In Ukraine remains on the pace of grain exports. During December 24 – January 6 from ports shipped 1,491 million tons of grain, including 491,2 thousand tons of wheat.

Price of wheat on the basis of CPT-port remains at :

• 2 class 160-163 $/t or 4850-5000 UAH/t,
• class 3 158-161 $/t or 4800-4950 UAH/t,
• forage 152-154 $/t or 4500-4700 UAH/t