Speculative growth of prices for wheat stopped
On the stock exchange in Chicago investors second day in a row record profits after a five-day growth of quotations has updated a maximum of last 3 months on the news about the drought in the regions for growing winter wheat. Demand for U.S. wheat down from-for oversaturation of the world market.
Weekly export sales compared with the previous week fell by 32% to 289 thousand tonnes, which is 36 per cent behind the corresponding period last year.
March U.S. wheat futures fell:
0.09 $/t to 171,59 $/t for solid winter HRW wheat in Kansas city.
- 0.28 $/t to 165,71 $/t for SRW soft winter-wheat in Chicago
However, rose by 1.65 $/MT to 224,77 $/t hard spring HRS wheat in Minneapolis.
Followed by Chicago on Thursday continued to fall and the market for French wheat. In addition, the Euro has again strengthened to a level of 1.25 €/$.
the Drop in prices has dampened expectations of traders on the results of procurement tender announced by Saudi Arabia.
- March delivery milling wheat on MATIF depreciated by 2 €/t to 156,25 €/t (194,98 $/t).
Egypt will hold a tender for purchase of wheat for delivery in March, which will determine further trend of prices for black sea wheat.