CBOT wheat prices lost 2% after USDA reports publication


During the reporting week (January 11-18), CBOT wheat futures lost 2.07%, reports UkrAgroConsult. In the export market, the US wheat prices decreased USD 1/MT, while French wheat supply prices remained at the previous week’s level, reports UkrAgroConsult.

Publication of several USDA reports was the main CBOT bearish driver. According to experts of the Department, winter wheat planted area in the USA for the 2018 season crop reached 32.6 million acres. At the same time, average market expectations were within 31.3 - 31.5 million acres.

Moreover, in January USDA WASDE report, experts of the Ministry of Agriculture lowered the world's wheat ending stocks estimate to 268.02 MMT (-0.4 MMT compared to December estimate), while the market expected more significant downward adjustment. wheat

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