CBOT wheat prices lost 4% last week pressured by wheat harvesting in major exporting countries

17.08.2017

Over the period under review (August 03-10), CBOT wheat prices lost 3.76%, reports UkrAgroConsult.

In the spot market, the US wheat prices dropped by USD 3/MT, while French wheat lost USD 2/MT in price. The recent price reduction in Chicago and European exchanges was triggered by the latest USDA report.

Market operators expected more significant reduction of wheat production and ending stocks estimates for the USA in 2017/18, given the decrease in spring wheat crop. The world's wheat ending stocks estimate was raised by 4 MMT to a new record of 265 MMT, mainly due to the CIS countries that surprised the market as well. wheat cme

Wheat harvesting in major exporting countries pressured prices. Winter wheat harvesting in the USA surpassed the last year's rates, as well as five-year average.

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".

 

UkrAgroConsult

 

 

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