There are new factors to increase wheat prices
the results of the auction environment has surprised many players on the European grain market. Futures milling wheat on MATIF rose by 2.5 €/t to 154.5 €/t (184,21 $/t).
the European market is growing on objective factors, in contrast to the us, which remains under the influence of speculators.
a weakening of the Euro led to the recovery of wheat prices, while this increase was the largest since early July.
Supported rates and a shortage of supply in the market. French farmers are not in a hurry to sell grain, assuming that prices are unreasonably low.
In Chicago on Wednesday continued speculative growth. Slightly supported the market news about decrease in the forecast of wheat production in Canada and the deteriorating weather conditions in some regions of Central Russia, the Urals and the Volga region. The promised rain may impair the crop productivity and complicate their harvesting.
after Evaluating the weather, the Ministry of agriculture left the forecast of grain production in 2017 at 110 million tons.
Waiting weekly export sales of wheat in the U.S. are in the range of 300-600 thousand tons.
the September wheat prices in the U.S. rose
- soft wheat SRW in Chicago by 0.28 $/t to 148,26 $/t,
- for hard wheat HRW in Kansas city at 1.10 $/t to 147,06 $/t
Again fell by 1.56 $/t to 232,68 $/t hard spring wheat HRS in Minneapolis.