CBOT wheat prices were supported by currency factor last week


During the reporting week (January 25 - February 01), CBOT wheat prices grew 3.8%. The US wheat export prices increased even more than the previous week – by USD 6/MT FOB, while French wheat supply prices fell by USD 1/MT (February delivery), reports UkrAgroConsult.

CBOT price growth was supported by the currency factor – depreciation of the US dollar against other world currencies. wheat cme

In the state of Kansas, the largest producer of winter HRW wheat, the share of plants in good and excellent conditions declined to 14%, compared to 37% at the end of December (44% in 2017), due to severe frosts in early January. Crop conditions are estimated as the worst since 2006. The similar situation is observed in the state of Oklahoma, where crop conditions are the worst over the last ten years. Despite the fact that these data are preliminary, soil drought persisted in key production regions, reducing prospects of crop conditions improvement.

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