CBOT wheat prices gained 1.9% during last week


During January 05-12, CBOT wheat prices gained 1.86% despite low exports in the holiday season (391 KMT, December 29-January 05), reports UkrAgroConsult.

Wheat prices were supported by the recent USDA WASDE report on winter wheat planted area in the USA for the 2017 crop. The market estimated the acreage within 31.7 - 36.38 million acres against 36.13 million acres for the 2016/17 crop. The latest USDA estimate equaled 32.38 million acres, which was minimal since 1909.

The further growth was limited by the increased estimate of global wheat production and its ending stocks in the 2016/17 season, published in the January USDA WASDE report.

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