The price of wheat awaiting the new USDA report
Wednesday the price of American wheat continued to rise in anticipation of the January USDA forecast balance. Traders estimate the forecast of the acreage that could affect prices. Investors close short positions and carry out purchase, because I believe that the assessment of the winter wheat crop will be reduced.
the European traders were surprised by the increase in the forecast of exports of French wheat in the season 2017/18. The Agency FranceAgrimer forecast in January raised its assessment of exports of soft wheat relative to the previous balance 1.8% to 18,017 million tonnes, which is 59% higher than the figure recorded 2016/17 MG.
the Fall of the Euro affects the mood of traders as it will lead to lower prices in the European markets despite a two-day growth of quotations in Chicago.
- March delivery milling wheat on MATIF fell by 0.5 €/t to 161 €/t (192,79 $/t).