The price of wheat grow with the support of weather conditions
the price of wheat in the United States continue to fluctuate because of the uncertainty with the fate of the new crop in the United States and in major countries-exporters. After a rise in prices last week on Monday they dropped after the rain, the past weekend.
However, on Tuesday quotes played the fall on Monday after monitoring the condition of crops, which showed that the condition of the winter wheat crop in Kansas has improved by 7%, but in Oklahoma and Texas declined by 8%. Promised for the next decade dry and hot weather also supported prices.
the Lack of rain and drought conditions in Australia, Canada and Russia are forced speculators to actively carry out the purchase.
the July wheat futures in the U.S.:
by 5.14 $/t to 198,60 $/t for solid winter HRW wheat in Kansas city
by 4.13 $/t to 232,58 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.24 $/t to 191,62 $/t for SRW soft winter-wheat in Chicago
the September wheat futures on Euronext rose yesterday by 2.75 €/t to 179 €/t (210,53 $/t), which has a maximum of 10 months.
Traders expect the outcome of the Algerian tender proposals which are in the range 229-230 $/t C&F, although the organizers were hoping for prices in the range of 224-225 $/t C&F.