CBOT wheat prices lost 3% pressured by weather factor in the USA

21.03.2018

During March 08-15, CBOT wheat futures lost 3.23%, reports UkrAgroConsult.

Weather factor pressured wheat prices the most – forecasted rains in arid regions of the USA.

In addition, within March 01-08, wheat export sales did not meet traders’ expectations. The contracting reached only 162.8 KMT, given high US wheat prices in comparison with other origins.

Moreover, there are no significant problems with wheat crop in other countries of the Northern Hemisphere (the EU, the Black Sea countries), which is another limiting factor for the world prices.

French wheat prices strengthened on average by USD 1/MT due to EUR weakening and increase in sales in the domestic market.

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UkrAgroConsult

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