The USDA report was supported by the wheat exchange
Thanks to a new September report by the USDA, the new week, the market for U.S. wheat began with the growth of quotations. Forecast world ending stocks of wheat were reduced by 3.75 million tons to 249,07 million as a result of higher world grain consumption, primarily food grain.
Experts believe that the market effect would be short-term because the balance forecast for the US remained unchanged, with the biggest since the 2008 harvest and the highest since 1987 stocks of wheat.
wheat Quotations on the September agreements rose:
- by 2.66 $/tonne to 140,82 $/tones of soft wheat SRW in Chicago
- at 2.30 $/tonne to 146,88 $/tone for hard wheat HRW in Kansas city
- to $ 0.46 / t to $ 183.62 / t on a firm ravine HRS wheat in Minneapolis.
- France reduced the forecast of wheat production in 2016 relative to the August balance of 3% to 28,242,000. Tons. This harvest will be 31% less than last year and by 23.6% lower than the average of the past five years. However, the price of French wheat is no longer responds to the results of the harvesting campaign in the country, depending on the volume of world grain supply.