Spring wheat in the U.S. rose to a 3-year high
on Thursday, July quotes of spring wheat in the U.S. rose to a 3-year high. Against this background, strengthened the price of winter wheat in Chicago and Kansas city.
Experts predict significant losses for high-protein wheat.
the USDA's new weekly report increased planted areas, which are located in the area of severe drought, 8% to 46.9% of the state of North Dakota, where they grow a half crop of spring wheat in the United States. Next week in South and North Dakota will remain dry weather.
Warm up the market and news from Canada. According to estimates of the Bureau of statistics, in 2017 the acreage under wheat declined to $ 22.4 million acres vs 23.3 million acres in 2016 and 22.7 million acres on average for 5 years. In particular, the spring wheat has decreased from 16.7 million acres in 2016 to 15.8 million acres.
July futures for U.S. wheat rose
- by 8.45 $/t to 176,46 $/t for SRW soft winter-wheat in Chicago
- by 6.98 $/t to 176,55 $/t for solid winter HRW wheat in Kansas city
- by 13.41 $/t to 272,36 $/t on a firm spring HRS wheat in Minneapolis.
the Paris stock exchange on Thursday for the first time ended plus after a week of falling. The rapid growth of Chicago has exceeded the appreciation of the Euro.
Some experts believe that the heat has travelled through the wheat crops in the United States, and a significant growth of quotations is a speculative response to the oversold condition of the market in the last week.
- September milling wheat quotations on the MATIF rose by € 3.50/ton to of 173.25 EUR/t or 197,86 $/t