The reduction of ending stocks in the USDA report warmed up wheat prices
on Tuesday quotes of winter wheat in the American grain platforms rose slightly, despite bearish for the US, the July USDA report.
Relative to the previous report, increased by 5 million tons, the forecast of wheat production across the country in the season 2016/17 MG and 1.5 million ton – ending stocks. However, investors are not focused on country-level data and focus on the world forecasts.
the USDA 7.68 million has increased the forecast of world wheat production. However, due to increased domestic consumption of wheat in the countries of 13.34 million tons, including feed grains to 10.94 million tons, ending stocks will decrease by 4.14 million. The factor of reduction of ending stocks gave a boost to yesterday's growth of stock quotes.
most Likely, unfavorable for us wheat data from the July USDA report speculators will pay in the next few days.
According to the July agreements, the price of wheat in the U.S.
- the soft wheat SRW in Chicago by 2.85/tone to 155,79 $/ton
- the for hard wheat HRW in Kansas city by 2.48 $/tonne to 149,82 $/ton.
No change was hard spring wheat HRS in Minneapolis at the level 179,21 $/ton.