Speculators rocking wheat markets

2017-09-18 13:10:15
Machine translation
Speculators rocking wheat markets

on Friday, the wheat area in Chicago was influenced by speculators. December futures rose on the back of speculative purchases and investors closing short positions.


News from Australia and South America cause traders anxiety for the future fate of wheat crop, as dry and too cool weather in Australia and the uncertain prospects for South American wheat can significantly change the global balance. In Argentina, more than 300 thousand hectares of wheat crops damaged by heavy rains and floods.


The December quotations of wheat in the U.S.

  • soft wheat SRW in Chicago by 2.21 $/ton to 164,98 $/t,
  • for hard wheat HRW in Kansas city 1.47 $/t to 163,87 $/t

At the same time hard spring wheat HRS in Minneapolis has decreased by 4.04 $/t to 228,36 $/t


In Paris Friday's trading was rather sluggish, which is reflected in their results.

 

  • December futures milling wheat on MATIF remained at the level of 163,25 €/t (195,23 $/t).


However, to support the prices might lower sales of French grain farmers that are unhappy with the current prices, and the stabilization of export prices for Russian wheat.


In Ukraine in recent days, wheat prices increased by 50-70 UAH/t due to the devaluation of the hryvnia against the dollar from 26 to 26.20 UAH/$ and the increase in bid prices in the ports in the 1-2 $/t