The reduction in acreage in the United States is pushing the price of wheat up
announced on Thursday the January USDA report includes several factors for the United States will have the opposite effect.
Quarterly wheat stocks in the United States was much higher than experts ' expectations, by 3.8% more than in the same period last year and were the largest since 1987.
the Estimate for ending stocks of wheat in the United States in season 16/17 MG increased by 1.17 million.
in addition, a failure was the results of the last export week.
However, all the negative factors was blocked by evaluation of the acreage under winter wheat, which was the lowest in 107 years.
March quotes of the American wheat have risen:
- in Chicago by 2.76 $/tonne to 156,62 $/tones of soft wheat SRW,
- in Kansas city to 4.78 $/tonne to 163,41 $/tone for hard wheat HRW,
- in Minneapolis by 4.59 $/tonne to 210,91 $/tones hard wheat HRS.