A weak Euro together with speculators maintain the price of wheat
we started the Week with confident growth of wheat market in the United States. The investors have been speculative purchases and covered short positions.
in addition, the speculative component of the price was supported by news on the Iraq's purchase of 500 thousand tons of U.S. wheat in the course of direct negotiations.
Thanks to favourable for sowing of winter weather as 05.11.17 in the US winter wheat planted 91% of the planned area (vs 90% last year and 91% average for 5 years).
Shoots were obtained on 75% of crops of winter wheat, while last year the figure was 78%, and the average over 5 years – 77%.
the December futures for U.S. wheat has increased:
1.19 $/ton to 157,99 $/t for hard wheat HRW in Kansas city,
at 2.30 $/t to 231,85 $/t for hard spring wheat HRS in Minneapolis.
- 1,84 $/t to 158,27 $/ton, soft wheat SRW in Chicago
French wheat on Monday also slightly more expensive. the Market has supported the Chicago stock exchange and the Euro, which has significantly depreciated.
- December futures milling wheat on MATIF rose by 0.75 €/t to 162,75 €/t (188,59 $/t).
According to FranceAgrimer, winter wheat sowing in France, held by 79% of the planned areas against 75% in the past year. Weather contributes to the sowing and germination of plants.
In Ukraine, the demand for wheat remains quite stable. Traders in the port offer:
wheat with protein 11.5% of the-172-173 $/t or 5350-5450 UAH/t,
wheat feed -163-165 $/t or 5150-5250 UAH/t
- wheat with protein 12,5% -174-175 $/t or 5450-5500 UAH/t,