The lack of rainfall in the United States caused a rapid increase in the price of wheat
Yesterday, the futures of winter wheat in the U.S. rose 3.2 percent to its highest level in the last 6 months.
the Driver of growth was forecast for continued drought in the next 2-3 weeks in the growing regions of winter wheat.
Supported the market and the speculative growth of quotations on the eve of the publication of the USDA report. This is especially noticeable on the growth of wheat prices in Chicago, while the highest level of drought recorded in Kansas.
However, the growth of stock prices is not too pleased with exporters. The rise in price of red winter wheat with a protein of 12.5% to the level 224-225 $/t FOB makes U.S. grain uncompetitive in the face of Russian wheat, which is offered at 195-198 $/t FOB, and European, for which I beg 209-210 $/t FOB.
wheat Exports from the U.S. in December fell to 2.1 million tons, which is 2.3% lower than in Dec 2016
March U.S. wheat futures rose:
4,41 $/t to 176,73 $/t for solid winter HRW wheat in Kansas city
1.47 $/t to 224,96 $/t on a firm spring HRS wheat in Minneapolis.
- by 5.23 $/t to 169,20 $/t for SRW soft winter-wheat in Chicago