World wheat prices are rising due to the sharp fall of the dollar
a Sharp depreciation of the dollar led to rapid growth of quotations of U.S. wheat on Wednesday. Speculative buy and investors closing short positions has further supported prices.
Traders still fear that the deficit of moisture on the winter wheat on the Us plains may worsen the harvest in 2018.
March U.S. wheat futures rose:
by 3.58 $/t to 159,10 $/t for solid winter HRW wheat in Kansas city.
1.29 $/t to 223,40 $/t on a firm spring HRS wheat in Minneapolis.
- 4.23 $/t to 159,10 $/t for SRW soft winter-wheat in Chicago
Despite the strong Euro, the market of French wheat on Wednesday also increased with the support of Chicago and is influenced by logistical problems. River transportation is hampered by the high water level, so farmers are forced to transport the wheat in the Northern ports by road, which increases costs.
Algeria Announced a tender for purchase of wheat and barley also warms up the market.
- March delivery milling wheat on MATIF rose by €1/t to 156,5 €/t (193,72 $/t).