CBOT wheat futures gained 5% supported by US wheat conditions data


During the reporting week (June 01-08), CBOT wheat futures gained 4.66%, reports UkrAgroConsult. In spot market the US and Russian wheat supply prices (June delivery) increased by USD 7/MT and USD 2/MT, respectively.

Last week data on hard spring wheat conditions in the USA (HRS) was the main growth driver in Chicago. 55% of crops were in good and excellent conditions (-7% over the week). Winter wheat conditions worsened as well (49% compared to 50% a week before). wheat.cme

During the current harvesting season in the USA (10% harvested compared to 7% of the five-year average), winter wheat is supplied with a yields below the expected level.

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