Speculators warm up the wheat market in Chicago
on Thursday, the market for U.S. wheat continued to rise due to speculative purchases and investors closing short positions.
Supported rates weather news. Meteorologists predicted a powerful downpours in the production regions of the U.S. concern for the fate of the next harvest.
the failure of the weekly exports of wheat harvest in 2016 at the end of trading no impact, as the sowing campaign is almost complete, and sales of new crop wheat were within expectations.
the July wheat prices in the U.S. declined:
- in Chicago 0.74 $/tonne to 159,37 $/tones on soft winter SRW wheat,
- in Kansas city of 0,55 $/tonne to 161,95 $/tone on a solid winter HRW-wheat,
- in Minneapolis 1.19 $/ton to 201,44 $/tone on a solid spring HRS wheat.
In Ukraine, wheat prices continue to decline. Mainly because of reduced export demand. In addition, processors have significantly reduced prices and are now offering for wheat delivered to the plant:
- 2 grade 4900-5000 UAH/t,
- 3 grade 4800-4900 UAH/t,
- feed 4700-4800 UAH/t
the USDA in its may balance estimated the wheat crop in the season 2017/18 25 million tons and potential exports to 14.5 million tons.