Speculators are trying to destabilize the wheat market
on Wednesday, the wheat futures in Chicago grew strongly by weather news. Forecasters warned that next week the temperature in the regions of winter wheat production will be below the average level, while a layer of snow on the fields is still insufficient.
Speculators took into account the possibility of damaging the crops with frost and began actively buying wheat.
March U.S. wheat futures rose:
0,92 $/t to 155,24 $/t for solid winter HRW wheat in Kansas city.
- 1.47 $/t to 155,61 $/t for SRW soft winter-wheat in Chicago
has Fallen in price on 0,18 $/t to 226,98 $/t hard spring HRS wheat in Minneapolis.
strengthening of the Euro stopped the growth of quotations of French wheat, which was observed in the last days. To support the prices couldn't even market in Chicago, is actively moved upwards. Hopes for the resumption of exports is almost there.
- March delivery milling wheat on MATIF fell by 0.75 €/t to 160,75 €/t (191,01 $/t).
the Snow that fell in the center and West of Ukraine, reduced the risks of damage to the crops by frost. In Russia, snow fell in most regions, except the Central part.
the Demand for wheat in Ukraine remains high, as traders rush for the Christmas season, to form export consignments. The devaluation of the hryvnia to 27.9 26,50 UAH/$ helped to raise UAH purchase prices, while the dollar prices remained unchanged, and wheat with protein 11.5% of fell to 1-2 $/t
currently in the port for wheat offer:
protein 11,5% 5450-5500 UAH/t or 169-170 $/t,
forage 5300-5400 UAH/t or 167-169 $/t
- protein 12,5% 5600-5650 UAH/t or 175-176 $/t,