CBOT wheat prices closed up 4.1% in early January
CBOT wheat prices closed the reporting week (December 29-January 05) up 4.1%. Information that the share of crops in good and excellent conditions decreased supported the prices, reports UkrAgroConsult. In Kansas the share of wheat plantings in good and excellent conditions dropped from 52% in late November 2016 to 44% in the first days of 2017. In Oklahoma 25% of crops were in good condition, while 50% - weak and sparse, compared to November conditions, when 7% of plantings were excellent, 46% - good, and 35% - weak and sparse.
Besides, market participants estimated that winter wheat acreage would be minimal since 1913 in the USA.
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