The price of U.S. wheat fell on the eve of the USDA report
a market Decline of us wheat at the end of trading environment exceeded the expectations of experts.
the Main reasons for the exchange pessimism have become a huge world stocks of wheat. Besides, France yesterday increased the estimate of private ending stocks for poor exports.
the Behavior of market participants determines the March the forecast balance of grain from the USDA, which is due out soon. Especially considering that concerns about the drought in the wheat regions of the American Plains dispelled the forecasts of meteorologists on chance of precipitation.
May the wheat prices in the U.S. fell:
- in Chicago by 3.49 $/tonne to 164,24 $/tones of soft winter wheat SRW,
- in Kansas city to 2.39 $/ton to 171,22 $/tones on hard winter wheat HRW,
- in Minneapolis by 1.84 $/tonne to 196,39 $/tone for hard spring wheat HRS.
On the stock exchange Euronext wheat prices are 170 euros/ton for March shipments.