Speculators rocking the wheat markets before the release of the USDA report
After the previous drop on the fundamental factors in the wheat market Tuesday, the US began to shake speculative purchases. Some players covered short positions in anticipation of the release of the USDA report, which will be published forecasts of acreage and quarterly balances.
May the wheat prices in the U.S. rose
- in Chicago 1.38 $/tonne to 155,97 $/tones of soft winter wheat SRW,
- in Kansas city 1.01 $/tonne to 155,79 $/tones on hard winter wheat HRW,
- in Minneapolis 0.74 $/tonne to 196,58 $/tone for hard spring wheat HRS.
After Chicago on Tuesday on speculative purchases may futures milling wheat in Paris at the MATIF rose by € 1/t to € 166,75/t or 180,86 $/ton. However, experts believe this momentum for further temporary strengthening of the Euro.
the Demand for Ukrainian wheat has declined, as major importers have already fulfilled their obligations under export transactions, and the largest buyer of Russian wheat, India imposes 10% duty on the import of grain. During last week's exports of wheat decreased by 65%, but traders have reduced their purchase prices of 1-2 $/ton.
Today in the port for wheat offer:
- 2 gr 167-170 $/ton or 5250-5320 UAH/t,
- 3 gr 166-170 $/ton or 5200-5290 UAH/t,
- feed 158-161 $/ton or 4900-5000 UAH/t