CBOT wheat prices increased supported by worsening US wheat conditions


During the reporting week (June 08-16), CBOT wheat prices increased (+0.98%), but not as significantly as in the previous week. The monthly growth has already reached 7%, reports UkrAgroConsult.

The information on hard spring wheat conditions in the USA (HRS) was the main bullish driver for CBOT. During the week, the share of crops in good and excellent conditions dropped 10% to 45% (79% in 2016). At the same time, market operators expected at least 53%.

During the current harvesting season in the USA (17% compared to the five-year average 15% for the reporting date), winter wheat comes with yields below the expected level.

The further futures growth was limited by forecasted rains in arid regions of spring wheat production in the USA, which were expected at the end of the reporting week.

Check up prices and enjoy free online charts on our website. Daily updated commodity exchange prices (CBOT, ASX, BCE, MATIF, WCE, LIFFE) and cash market quotations for wheat, corn, barley, soybean, sunflower and other agricultural commodities in Ukraine, Black Sea region and world are available in section "Prices and Futures".




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