Wheat prices accelerate the drop
on Monday, the wheat market in the United States has accelerated begun on the previous week's drop. Within 5 days soft wheat in Chicago has depreciated by $10/ton.
Meteorologists promise sufficient rainfall in the wheat region of the United States in the next 1.5-2 weeks. The prospects for a good harvest combined with the huge global inventories by the end of the season 2016/17 MG pressured prices.
May the wheat prices in the U.S. fell:
- in Chicago by 3.67 $/ton to 158,18 $/tones of soft winter wheat SRW,
- in Kansas city by 4.68 $/tonne to 162,68 $/tones on hard winter wheat HRW,
- in Minneapolis by 2.66 $/tonne to 195,20 $/tone for hard spring wheat HRS.
On Euronext last week after the March expiry trades on wheat prices fell sharply from € 175/t to 171,75 € /t for deliveries in may.
the Fall in world wheat prices has had an impact on the Ukrainian grain market. The pace of wheat exports slowed down. In the past week were shipped 66 tons of wheat against 110 thousand tons in the previous week.
Traders have lowered the price of 1-2 $/ton, but keep them in the hryvnia equivalent at a high level with the aim of attracting additional cargoes of grain.
currently the port for wheat offer:
- 2 gr 170-171 $/ton or 5300-5350 UAH/t,
- 3 gr 167-170 $/ton or 5200-5300 UAH/t,
- feed 160-162 $/ton or 4900-5050 UAH/t