Speculators continue to heat up wheat prices in Chicago
Monday March wheat futures in Chicago reached its highest level over the last 7 months.
Despite the promise of snowfall in the regions of winter wheat production were little precipitation, so the market is again concerned about the fate of future crops.
Supported rates and an increase in the weekly wheat exports relative to the previous week by 13.5% to 487 thousand tons, which is 50% higher than the corresponding period last year.
March U.S. wheat futures rose:
3.31 $/t to 171,04 $/t for solid winter HRW wheat in Kansas city
3.49 $/t to 221,74 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.51 $/t to 170,49 $/t for SRW soft winter-wheat in Chicago
In Paris, prices were rising less rapidly, as traders took into account the results of the Egyptian tender, which Russian wheat has risen to the European level. The rising prices today will curb the strengthening of the Euro.
- March delivery milling wheat on MATIF rose 1.25 €/t to 160,25 €/t (196,67 $/t).
the Price of Russian wheat protein 12.5% for the week rose by 1-2 $/MT to the level of 197 $/t on the basis of FOB due to the reduction in the rate of export due to weather conditions.
In Ukraine, export prices of wheat remained at the level of last week, however, a significant strengthening of the hryvnia from 28.7 to 26.8 UAH/$ led to the decline of UAH purchase prices and reducing the number of proposals.
Today, in the port, traders offer for wheat:
protein 11.5 per cent 174-175 $/t or 5550-5650 UAH/t,
feed - 171-172 $/t or 5500-5550 UAH/t
- protein 12,5% - 176-177 $/t or 5650-5700 UAH/t,