The increase in the market price of wheat continues
on Thursday, after the quotations of spring wheat surged 12% to a maximum two-year rate, the price of soft wheat in Chicago reached its highest over the last month value.
market Participants are increasingly concerned about the fate of the next harvest. Forecasters predict that next week the air in South Dakota warms up to 38 degrees, and North Dakota, which is the largest producer of spring wheat, up to 32 degrees. While precipitation will be very small.
the First results of the harvesting campaign were different in separate regions: in some places reduced the yield of wheat in the other – on the background of high productivity having problems with the protein content in the grain of the new harvest.
the July wheat prices in the U.S. rose
- in Chicago by 1.65$/MT to 165,07 $/t for SRW soft winter-wheat,
- in Kansas city at 2.85 $/t to 166,72 $/t for solid winter HRW-wheat,
- in Minneapolis 3.22$/t to 222,02 $/t on a firm spring HRS wheat.
September quotations of wheat futures in France steadily increased for the third consecutive day. Mainly, followed by Chicago, where fear for the harvest of spring wheat.
market Participants worry about the possible introduction of Egyptian standard "null cones". First of all will suffer from it the main provider of Egypt – Russia, which, in turn, will increase competition in the traditional European grain markets.
- September milling wheat quotations on the MATIF rose 1.75 euros/t to 170,25 € /t or 190,88 $/t
Released today, the USDA report will calm the market, as carry-over stocks of wheat are growing, and production forecasts remain at a high level.