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.