CBOT wheat prices lost 4% pressured by huge Russian crop

13.12.2017

During the reporting week (November 30-December 07), CBOT wheat prices lost 3.7%. Over the month, wheat futures have already decreased 7.5%, reports UkrAgroConsult.

The US wheat spot prices (January delivery) remained unchanged, while French wheat quotations fell by USD 1/MT, following CBOT trends.

Low wheat exports from the USA compared to last season, amid high competition, especially from Russia, remained the main CBOT bearish factor.

The publication of Statistics Canada data on wheat production in 2017 was another bearish factor. The gross crop surpassed all expectations. The estimate of all grade wheat production was raised by 3 MMT to 30 MMT.

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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