Prices for U.S. wheat have shot up

2016-05-27 13:18:39
Machine translation
Prices for U.S. wheat have shot up

on Thursday the American grain at all sites wheat quotations rapidly and grew together.

 

the Fundamental reasons for this growth are absent, and it is due to massive liquidation by investors of short positions.

 

in addition, among the market players are actively discussing the possibility of replacing the manufacturers of animal feed corn feed wheat.

 

Beautiful forward sales of wheat in the amount of 354,53 thousand tons also supported the market. For the second consecutive week sales of wheat of the crop of 2016, significantly ahead of the same period last year. The total amount of forward sales of wheat in 2016 already amounted to 3.86 million tonnes, which is 13 % higher than the volume of forwards in 2015.

 

Wheat quotations on the July contracts rose:

  • 5,60 $/t to 176,83 $/tones of soft wheat SRW in Chicago,
  • 4.13 $/ton to of 169.85 $/tone for hard wheat HRW in Kansas city
  • 4.59 $/tonne to 196,39 $/tones hard wheat HRS in Minneapolis.