The price of wheat, the U.S. received new factors supporting
Friday's session on a wheat site in the USA ended with the increase of quotations, due to a combination of speculative and fundamental factors. After a fall in prices on Thursday investors covered short positions and carried out by speculative buying.
the Market has supported the powerful forecast rainfall in Australia, which can damage up to 4 million tons of wheat. In some regions of the country have already started to harvest in the near future to start cleaning and other regions.
in a Certain way Friday's session supported by a weaker dollar.
March U.S. wheat futures rose:
2.21 $/ton to 160,75 $/t for hard wheat HRW in Kansas city,
by 3.58 $/t to 232,03 $/t for hard spring wheat HRS in Minneapolis.
- 2.02 $/t to 161,12 $/ton, soft wheat SRW in Chicago
Strong Euro and strong exports of Russian wheat does not lend optimism to European traders of possible prospects. The European Commission increased the forecast of wheat production in the EU in the 2017/18 season by 1 million tons, but the estimate of exports was left unchanged at 27 million tons.
- March delivery milling wheat on the Paris MATIF fell by 0.5 €/ton to 162 €/t (192,99 $/t).