The increased supply puts pressure on wheat markets

2016-12-08 12:08:10
Machine translation
The increased supply puts pressure on wheat markets

on Wednesday, quotes on American wheat markets moving down. Factors high yields in Canada and Australia for a long time to influence the markets.

 

Investors decided to take profits of previous sessions.

 

the March wheat prices in the U.S. declined:

  • 2.11 $/tonne to 147,34 $/tones of soft wheat SRW in Chicago
  • by 1.84 $/tonne to 146,97 $/tone for hard wheat HRW in Kansas city
  • by 1.84 $/tonne to 194,37 $/tone for hard spring wheat HRS in Minneapolis.

 

On Euronext, there is a slight price increase on the December agreements, for a fraction of market activity and the need to complete deliveries. The price of wheat rose to 162 € /ton or 174,44 $/ton.

 

In Ukraine, the demand for wheat, especially with the delivery to the port, remains quite high. Traders are trying to fulfil contractual obligations before the start of the Christmas holidays.