CBOT wheat prices gained 13.5% last week


During the reporting week (June 29-July 06), CBOT wheat futures gained 13.5%, reports UkrAgroConsult.

Last week the US wheat supply spot prices (August delivery) increased USD 12/MT.

The bullish CBOT trend was still supported by the situation in Minneapolis stock exchange, where spring wheat is traded, as well as by the publication of USDA estimates about wheat sowing acreage in the USA in the 2017/18 season (-9% over the year to a minimum since 1919).

Hot weather in the states of Montana and Dakota kept aggravating spring wheat conditions. The share of crops in good and excellent conditions decreased to 37% or -3% over the week (72% in 2016). Winter wheat conditions deteriorated 1% to 48% (62% - in 2016).

wheat cme

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