Wheat prices under pressure of fundamental factors
the Trading week for U.S. wheat began with the fall. Traders no longer have to worry about possible losses of up to 4 million tons of wheat in Australia due to the bad weather, which supported quotes on Friday. In the market reigns speculative sentiment, investors are actively selling.
On price under pressure news about the increase in exports of Argentine wheat in November to 925,392 thousand tons, which is 62% higher than in the same period last year, and the fall in the rate of export of U.S. wheat relative to previous week by 17.6% to of 409.5 thousand tons
March U.S. wheat futures fell:
1.29 $/t to 159,46 $/t for hard wheat HRW in Kansas city,
0,92 $/t to 231,11 $/t for hard spring wheat HRS in Minneapolis.
- 1.19 $/ton to 159,92 $/ton, soft wheat SRW in Chicago
quotes French wheat was affected by news of the purchase by Saudi Arabia of a large consignment of European wheat.
Grain operator in Saudi Arabia SAGO purchased the tender 495 thousand tons termoservice wheat at a price 226-235 $/t on terms of delivery to the ports of Jeddah and Dammam during February to April 2018.
- March delivery milling wheat on the Paris MATIF fell by 0.25 €/t to 161,75 €/t (191,80 $/t).