CBOT wheat prices lost 5.8% pressured by US and Canadian wheat crop expectations

29.08.2016

According to UkrAgroConsult, during the reporting week (August 18-25) CBOT wheat prices lost 5.82%. Meanwhile, spot market prices did not change considerably.

Significant reduction of futures prices was triggered by publication of official 2016 Canadian wheat production estimate, which may reach the second highest level over the last 25 years.

US farmers have already harvested more than half of spring wheat, advancing by 17% to 65% last week, while the five-year average for the current date equals 49%. Moreover, weekly US wheat sales were lower than market expectations.

wheat cme

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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