The price of winter wheat in the United States grew by 3%
the Main driver of growth in wheat prices in the United States remains the sharp deterioration of the winter wheat crop. Forecasters reported that in the coming weeks in the regions of the wheat belt in the U.S. who suffer from drought, rainfall will be minimal.
Experts believe that export sales of us wheat will fall because of the decrease of its competitiveness. In February wheat quotes in Chicago has grown by 7.25%, Kansas city – by 8.77%.
March U.S. wheat futures rose yesterday:
by 7.07 $/t to 186,75 $/t for solid winter HRW wheat in Kansas city
3.49 $/t to 222,66 $/t on a firm spring HRS wheat in Minneapolis.
- 7.81 $/t to 178,02 $/t for SRW soft winter-wheat in Chicago
the Market for wheat is growing on the problems of the future harvest in the United States and following the strengthening of export prices for Russian grain. March quotes of French wheat have crossed the maximum of the last 3.5 months. Prices supported the weak Euro.
the European Commission has published its first forecasts of wheat production in 2018, which is estimated at 140 million tons against of 141.6 million tonnes in 2017. The forecast of wheat exports from the EU increased compared to the previous 24 to 25.3 million tons.
- March delivery milling wheat on MATIF rose 2.5 €/t to 166,75 €/t (203,48 $/t).