Dry weather is becoming a factor of influence on the European grain market
the Dry weather is becoming a factor of influence on the European grain market. On Thursday, this caused the growth of prices for French wheat supply in September.
In Western Europe overtime, the temperature is kept for two weeks in a row, forecasters predict the same situation for the next 10 days. According to the met office France, the deficit of moisture in the soil is 10% in large parts of the country.
the Exchange MATIF in Paris has raised the quotation of September contracts for the grain milling 0.75€, to the level 170,50€, or 189,98$.
In Thursday trading on the U.S. stock exchanges passed in the negative territory. Only at the end of the trading day the rates increased. One of the factors - speculation about the weather.
Talking about the possible impact of drought on the yield of the new grain has spread from the US and Canada on Sahan Europe, Ukraine and China.
In July, the price for the American wheat have risen:
- 166,72 $/ton soft wheat SRW in Chicago (an increase of 3,95 dollar)
- 170,95 $/ton for hard wheat HRW in Kansas city (an increase of 2.85 per dollar)
- 232,40 $/ton on hard spring wheat HRS in Minneapolis (an increase of $ 1.84)
In the center and East of Ukraine there is a lack of rainfall, which may lead to a decrease in yield of grain crops.
Global trends affect the cost of Ukrainian wheat. Yesterday prices rose $ 1-2, levels:
- 157-159 $/ton for class 2, 12,5%
- 153-156 $/ton for class 3, 11,5%
- 146-147 $/tonne, for feed wheat exports in July-August.