Wheat prices continue to rise
on Friday, the U.S. wheat market continued to strengthen. During the week quotations showed highest since Oct 2016 increase and rose by 4%.
the Driving force for the growth of exchanges was the USDA report for February, which significantly increased the estimate of wheat exports of the USA and reduced forecast ending balances. World wheat stocks will drop by 4.7 million tons, mainly due to the fall in wheat production in India 3 million tons to 87 million tons.
the March wheat prices in the U.S. rose
- in Chicago by 2.02 $/tonne to 164,98 $/tones of soft winter wheat SRW,
- in Kansas city at 3.40 $/tonne to 169,20 $/tones on hard winter wheat HRW,
- in Minneapolis 1.47 $/tonne to 210,35 $/tone for hard spring wheat HRS.
On Euronext wheat quotes again tested the resistance level 171-172 Euro/ton, however the auction ended at around 171,75 € /t or 182,74 $/ton.
In Ukraine the price of wheat in connection with the trends of the world market also increased by 1-2 dollars. The depreciation of the hryvnia by 10-20 kopecks against the dollar, the hryvnia has strengthened grain prices.
On the basis of CPT-port for wheat offer:
- grade 2 $162 to 167 or 5250-5300 UAH/t,
- class 3 $161-166 or 5150-5250 UAH/t,
- forage $152-156 or 4900-5000 UAH/t