Speculative growth of prices for wheat continues
on Tuesday, March wheat futures in Chicago rose 1% to its highest level since July, 2017, and chervonoarmyska hard winter wheat at Kansas city rose 2.3% to a maximum of 7 months. Driver prices remain monitoring data USDA, indicating a sharp deterioration in the condition of winter wheat crops in the major States.
the March U.S. wheat futures rose:
at 4.13 $/t to 179,67 $/t for solid winter HRW wheat in Kansas city
0.18 $/t to 219,17 $/t on a firm spring HRS wheat in Minneapolis.
- 1.38 $/t to 170,21 $/t for SRW soft winter-wheat in Chicago
According to the Agency FranceAgriMer, in good to excellent condition 85% of soft wheat, which is the lowest indicator for the last 4 years. Last year, in good and excellent condition was 93% of crops.
After the growth of Chicago continue to rise in price of the March futures of French wheat. The weakening of the Euro and the growth of export prices for Russian wheat has also put pressure on the market.
However, a five-day rising prices has reduced the demand for French wheat.
- the March futures milling wheat on MATIF rose by 0.25 €/t to 164,25 €/t (of 201.14 $/t).
India in the 2017/18 season, according to the official forecast for a reduction of acreage by 4.27% to 30,42 million hectares can reduce wheat production in comparison with the previous season by 1.42% to 97,11 million tonnes, which will still exceed the average annual level 93.3 million T.
last season India are actively buying Ukrainian wheat, but after the introduction of import tariffs significantly reduced the exports of wheat from Ukraine.
In Ukraine, wheat prices continue to rise following the world and now in the port of traders offer:
the protein of 11.5%, 178-181 $/t or 5750-5850 UAH/t,
feed 174-176 $/t or 5650-5750 UAH/t
- protein 12,5% 180-183 $/t or 5850-5950 UAH/t,