The increase in wheat prices continues, albeit more slowly
on Thursday, the market for U.S. wheat continued to rise, albeit at a slower pace. March wheat futures in Chicago reached a high of 7 weeks. The main drivers of trading is speculators, who continue to close short positions.
Traders increasingly concerned about dry weather in the States of Oklahoma, Texas and Kansas, where they grow winter wheat. To move in the spring and the ripening period the plants need more moisture.
a Wide range of expert expectations for the weekly export sales in the range of 200-500 kt confirms the uncertainty of the market.
March U.S. wheat futures rose:
0.73 $/t to 159,83 $/t for solid winter HRW wheat in Kansas city.
0,82 $/t to 224,22 $/t on a firm spring HRS wheat in Minneapolis.
- 0.55 $/t to 159,65 $/t for SRW soft winter-wheat in Chicago
Despite the relentless strengthening of the Euro, French wheat has received a sufficient number of factors to leave their positions unchanged.
Some intensified demand for European grain. In particular, Algeria yesterday at the tender purchased 500 thousand tons of wheat, much of which is of French origin.
shipping grain to export ports of France, hampered by the high water level in the rivers.
the Main competitor – Russia increases export prices caused by the strong frost of the fall in the rate of shipments.
- March milling wheat futures on the MATIF remained at the level 156,5 €/t (195,44 $/t).
In Ukraine, purchasing prices for wheat are rising due to rapid devaluation of the hryvnia to the level of UAH 28,7/$.
Today traders offer in the port for wheat:
with a protein of 11.5%, 170-171 $/t or 5800-5850 UAH/t,
feed 168-169 $/t or 5600-5750 UAH/t
- protein 12,5% 174-175 $/t or 5850-5900 UAH/t,