The wheat harvest in the US and Europe is putting pressure on wheat prices
Dry weather in the U.S. and Europe have helped accelerate the pace of the harvesting campaign, which this year began at 7-15 days earlier than usual. In the US winter wheat threshed on 41% of the area, the average yield was better than expected, the EU fee has just begun, so data on productivity yet.
In the black sea region also intensify the collection, but the yield is 5-10% lower togoro. The worst productivity may be in a spring wheat which is sown after the optimum time and in smaller amounts. However, hot weather will contribute to the improvement of grain quality.
Experts Agritel, which for the crop tour has reduced the forecast of wheat harvest in Russia to 68.5 million tonnes, today publishes assessment of wheat production in Ukraine.
- September futures milling wheat on MATIF fell by €1/t to 173 €/t (201,4 $/t).
the market U.S. wheat is pressing early and high rate of harvest wheat. On Tuesday quotes of soft wheat in Chicago fell to a 2-month low and hard wheat in Kansas city – to 5-month low. For three days, the soft wheat in Chicago has lost of 9.46 $/t
the Rains have begun in Australia, has eased the concerns of traders regarding the fate of the future crop of wheat.
the July wheat futures in the U.S. fell:
4.32 $/t to 168,28 $/t for solid winter HRW wheat in Kansas city
by 2.57 $/ton to 195,66 $/t on a firm spring HRS wheat in Minneapolis.
- by 2.66 $/t to 172,51 $/t for SRW soft winter-wheat in Chicago