Wheat prices: the best time to sell new crop
on Monday, the price of wheat in Paris rose to an annual high. European traders after the American use of weather factors for growth of quotations.
during the week in France will be hot weather that will worsen the condition of wheat crops, which were suffering from drought.
- September milling wheat quotations on the MATIF rose by € 4/t to 177,50 Euro/ton or 198,07 $/t
In the United States data USDA weekly monitoring status of crops relevant to the previous level, so the situation remains uncertain. Traders expected improving performance, so recorded a profit on operations last week in Minneapolis and Kansas city.
Chicago during the session, traded in the red, but thanks to the speculators finished the day with slight growth.
the July wheat futures in the U.S. had the following dynamics:
- in Chicago 0.64 $/t to 171,59 $/ton rose soft winter SRW wheat
- in Kansas city 0.37 $/t to 173,61 $/t fell hard winter HRW wheat
- in Minneapolis at 1.20 $/t to 234,97 $/t fell hard spring HRS wheat.
Followed global markets of the black sea wheat during the week has risen in price for 3-4 $/t
For Russian wheat with protein 12.5%, and July shipment on FOB offer 180-183 $/t
the Price of Ukrainian wheat with delivery in July on CPT-port:
- 2 gr. protein 12,5% - 158-160 $/t
- 3 gr. protein 11,5% - 156-158 $/t,
- feed - 146-148 $/t