Speculators reduce the stock price of the wheat
After a sharp jump in prices last week, on Friday, exchange wheat price has slipped owing to speculative sales, while prices in the physical markets continued to rise, especially in the black sea region.
Traders are still undecided sizes caused by prolonged rainfall in crop losses in the EU and Russia, and the deterioration of wheat quality in Ukraine.
Prices of Russian wheat protein 12,5% increased to 225-230 $/t FOB. There is data about transactions at a price of 225 $/t in September. The forecast of wheat production for Russia is lowered to 66 million tonnes, which causes further price increases.
- After rising last week, the price of 17 €/t, the traders were fixing profits that September futures milling wheat in Paris fell by 0.5 €/t to 198,25 €/t or 231,20 $.
we will Remind that on Wednesday prices hit 3-year high, but market participants believe that the jump was more panic than you had reasonable grounds.
In Chicago after the jump environment on Friday and continued with a speculative drop.
Quotes spring wheat in Minneapolis increased slightly on data from the crop tour, which demonstrate a yield of 41.1 bushels/acre, exceeding last year's 38.1 bushels/acre, however, much inferior to the middle of the 5-year average.
the September wheat futures in the U.S. fell:
0.55 $/t to 195,65 $/t for solid winter HRW wheat in Kansas city.
- to 2.20 $/t to 194,92 $/t for SRW soft winter-wheat in Chicago
Rose by 1.74 $/t to 217,70 $/t hard spring HRS wheat in Minneapolis.