CBOT wheat prices declined by 1.8% under pressure of record high ending stocks estimates

15.11.2016

During November 03-10 CBOT wheat prices dropped by 1.8%. On spot market supply prices for French and US wheat declined, while Romanian and Ukrainian wheat prices strengthened.wheat cme

Price reduction in Chicago was triggered mainly by the US election results, as well as November USDA WASDE report. Contrary to market expectations, experts of the department raised their global wheat ending stocks estimate to record high in the 2016/17 season.

More information on price behavior on grain market in the countries of Black Sea region is available to subscribers for weekly ag market report "Black Sea Grain and Oil" and "Online market review" by UkrAgroConsult.

 

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