Speculators warm up the price of wheat
Yesterday on the US exchanges wheat futures rose sharply under the influence of speculative funds that take money from the stock market continues to fall, and put them in the growing wheat market.
the Number of transactions in wheat was the highest in 7 months.
Weekly monitoring of crops of the United States showed that in the East and South of Kansas, the drought continues and the Oklahoma crop condition improved slightly. However, the promise of next week, dry weather in major growing regions of winter wheat continued to worry traders.
Export sales of wheat from the U.S. last week declined by 41% up to 191,1 thousand tons.
Wheat futures has risen by 2.2-2.5% and crossed the psychological bar of 5 $/bushel.
March wheat futures in Chicago for 6 days of continuous growth rose by 21.41 $/t, in particular over the last two days by 15.53 $/t
March U.S. wheat futures rose:
by 8.36 $/t to 195,11 $/t for solid winter HRW wheat in Kansas city
by 5.14 $/t to 227,81 $/t on a firm spring HRS wheat in Minneapolis.
- by 7.72 $/t to 185,74 $/t for SRW soft winter-wheat in Chicago
High Euro and low demand puts pressure on price of European wheat, so it grows much more slowly. In addition, the pace of exports continues to decline and is already inferior to togoron 20%.
March delivery milling wheat on MATIF rose by 0.5 €/t to 167,25 €/tons (203,7 $/t).