Wheat prices grow due to forecasts of reduced production
Following the predictions of the world's leading Agency Strategie Grains, the IGC, the European service MARS on the reduction of wheat production, the Russian hydrometeorological center reported a decrease compared with last year wheat harvest in Russia by 15-20 %.
According to Reuters, Sweden will be able to collect no more than 1.7-1.9 million tonnes of wheat, 40% will yield a harvest of 2017.
Using the abundant precipitation in July Bulgaria's wheat harvest will be reduced in comparison with the previous year by 7.5% to 5.5 million tons, and the yield will be 49 kg/ha.
- the futures of French wheat on Tuesday renewed a 3-year high, but at the end of the trading session fell by 0.25 €/t to 202,25 €/t or 236,38 $.
the Decline of wheat production in the black sea countries, EU and Australia affect the stock markets of the United States. September wheat futures in Chicago, on Tuesday reached a 2-month high.
the September wheat futures in the U.S.:
by 3.21 $/t to 204,47 $/t for solid winter HRW wheat in Kansas city
1.93 $/t to 222,75 $/t on a firm spring HRS wheat in Minneapolis.
- by 2.66 $/t to 203,46 $/t for SRW soft winter-wheat in Chicago