World wheat prices are on the rise speculative
On Tuesday the stock prices of French wheat rose to the highest in the last two weeks. The main support was provided by the Chicago stock exchange, where a second day prices are rising in problems with the harvesting of soybeans and corn. A certain impact of European speculators.
December futures milling wheat on MATIF rose by € 1.25/t to 162.00 EUR/tone or 180,93 $/ton.
Wheat area in Chicago on Tuesday, showed a slight increase. Support to quotations was rendered by the neighboring markets of corn and soybeans, which are heated by the suspension due to the bad weather the harvest. Trairi was speculative transactions, and closed short positions.
Limit the growth of prices, the fundamental factors in the form of significant volume of world wheat supply. Further complicating the situation is a temporary disappearance from the market of foreign procurement of one of the world's largest importers of wheat are Egypt.
December U.S. wheat futures rose.
- 0.74 $/tonne to 149,18 $/tones of soft wheat SRW in Chicago
- 0.73 $/tonne to 153,76 $/tone for hard wheat HRW in Kansas city
Decreased by 0,46 $/tonne to 180,50 $/t hard spring wheat HRS in Minneapolis.