Speculators warm up the price of wheat in the United States

Usually precipitation may lead to reduction of prices on grain markets, but this season the excess moisture is delaying sowing of spring crops, interferes with processing of plants against pests and diseases, and the probability of flooding can damage crops and reduce the quality of winter wheat.

in the Next 7-10 days corn belt of the USA will cover the powerful rains and rains that delay planting corn and spring wheat. This was the reason for sharp growth of quotations on corn and wheat in Chicago.

Supported price increase of wheat exports from the U.S. for the week of 81.5% to 114.5 thousand tons.

against the closure of the investors short positions and with the support of the corn market July futures wheat rose to a month high.

the July wheat futures in the U.S.:

by 5.42 $/t to 153,13 $/t for solid winter HRW wheat in Kansas city

4.23 $/t to 193,54 $/t on a firm spring HRS wheat in Minneapolis.

6.71 $/ton to 171,59 $/t for SRW soft winter-wheat in Chicago

After Chicago continues to strengthen the market for French wheat. Although the increase in prices here limited the increase in the forecast of wheat production in the EU. Main competitors of France – Ukraine and Russia can also obtain a good crop of wheat.

the September wheat futures on the MATIF rose to 1.75 €/t to 173,75 €/t or 194,22 $/t

In the black sea region next week will be moderate rainfall. In the East of Ukraine and Russia won’t rain, which will help speed up sowing of spring wheat. The temperature will be higher than normal, however, a significant soil moisture reserves will contribute to sowing.

this Year, the pace of sowing in Russia is higher than last year, and as of may 15 barley planted 6 million hectares or 76% of the plan, spring wheat – 4.8 million hectares or 39.6 5 of the plan. On the same date last year barley was sown 4.7 million hectares of spring wheat and 2.7 million hectares.

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