The lack of rainfall supported wheat prices
the Increase in air temperature and lack of rainfall in the United States promoting the sowing of spring crops, however, damage the winter wheat crop, which is suffering from drought.
Wednesday the price of American wheat continued to grow, in particular soft wheat futures in Chicago rose by 3% and reached a 7-week high.
Experts said that the condition of winter wheat will not improve. This has led to significant investors closing short positions in Chicago and Kansas city.
Wheat in Minneapolis is going up due to the delay of sowing in the North American Plains, caused by low temperatures on the soil.
the May futures for U.S. wheat has increased:
by 5.33 $/t to 186,29 $/t for solid winter HRW wheat in Kansas city
2.48 $/t to 220,27 $/t on a firm spring HRS wheat in Minneapolis.
- 5,05 $/t to 178,66 $/t for SRW soft winter-wheat in Chicago
With the support of the weak Euro and growth of the Chicago may futures milling wheat on MATIF rose to 1.75 €/t to 165,25 €/t (203,16 $/t).
Optimism traders added Algeria announced a tender for the purchase of soft wheat in the new season. At the previous auction on April 3 Algeria acquired 388 thousand MT of French wheat at a price 229,39 $/t C&F.
In the black sea region, prices and demand for wheat remain at a high level. For wheat with protein 12% offer 212-215 $/t FOB, with protein 11.5% in 206-208 $/t FOB with delivery in may-June. The price of wheat of the new crop is lower by 10-15 $/t
the South Korean operator of optional origin canceled the tender for purchase of maize and acquired instead of it 63 thousand tons of feed wheat at a price of $220/MT CFR for delivery in September.