Wheat prices continued to fall after the release of the USDA report
the March USDA report in which the forecast of ending stocks of wheat for the United States decreased by 280 thousand tons, could support the market for U.S. winter wheat, but its effect has crossed methenamine expected precipitation over the major regions-producers of the American Plains, where now there is a significant soil moisture deficit.
May the wheat prices in the U.S. fell:
- in Chicago at 1.10 $/tonne to 163,14 $/tones of soft winter wheat SRW,
- in Kansas city 1.29 $/tonne to 169,94 $/tones on hard winter wheat HRW.
Rose 1.56 $/tonne to 197,95 $/t hard spring wheat HRS in Minneapolis.
In the new March balance USDA increased the forecast of world wheat exports in the season 2016/17 MG by 2.03 million tons to 181,02 million tons, which will be the largest historical value.
Assessment of export potential is increased for Argentina by 1.2 million tons to 10.1 million tons for Australia by 1 million tons to 25.5 million tons.