Wheat prices in Chicago have risen rapidly due to speculators

on Wednesday the world's wheat exchanges continued to grow on the data about the low yields in major exporting countries, but rates of winter wheat in Chicago rose from 3.5% to 3-month high on rumors about China's purchase of U.S. wheat after soybeans and corn.

China reported that in 2020/21 MG increase wheat production by 0.6% to 132 million tons, while USDA estimates it to 136 million tons.

Thanks to the favourable rains of the last two weeks, experts of the Association of German agricultural cooperatives (DRV) increased compared with the June forecast estimate of the wheat crop in the country in 2020/21 MG 1.1% to 22.4 million tons, which is 2.6% less than the previous year.

in addition to the rapid growth of prices in the Chicago market European wheat support information about the low yields of wheat in Russia and France.

the

• September futures milling wheat on MATIF rose to 1.75 €/t to at 187.25 €/t or 213,68 $/t

the Government of Pakistan is developing measures to enhance the import of wheat to avoid shortage in the domestic market, as the procurement plan for the state reserve only 79%.

the September wheat futures in Chicago rose 4.5% to 2.5-month high amid a global trend of strengthening of wheat prices. Prices supported the rumors of a possible purchase by China least two cargos of wheat from the United States. Investors have spent massively speculative buying and closed short positions.

the September wheat futures in the U.S.:

the

6.34 $/t to 168,83 $/t for solid winter HRW wheat in Kansas city

3.31 $/t to 193,91 $/t on a firm spring HRS wheat in Minneapolis.

• by 8.82 $/t to 202,36 $/t for SRW soft winter-wheat in Chicago

Futures for black sea wheat in Chicago has also increased:

the

in August by 0.7% to 210 $/t,

September's 0.9% to 213 $/t,

in December by 0.6% to 219,25 $/t

• in July by 1.5% to 205 $/ton,

In Russia as of July 15, with 6.3 million hectares and produced 21.4 million tons of wheat with a yield of 3.38 t/ha. as you move the harvest from the southern regions to the Central average productivity is improving, but low stocks of old crop wheat producers holding back sales of the new.

As of July 1, wheat stocks at agricultural enterprises in Russia amounted to 3.72 mn tonnes, which is 41.8% less than the previous year and 8.4% in the average 5-year average.