Wheat world market: CBOT goes down, cash market goes up

01.08.2016

Over the reporting week (July, 21 – 28) CBOT wheat quotations lowered again (-1.77%) influenced mainly by seasonal factor – harvesting works in main producing countries. US threshed 83% of the planned area (82% in 2015; 79% - 5-year average). Also market operators actively discussed the unexpectedly high yields of Ukrainian wheat during the ongoing harvesting campaign.  

Though, cash market`s tendencies (August shipment) were mixed. US SRW export  FOB price  remained almost unchanged by the end of the reporting period, supported by high export sales of new crop wheat (+27% compared to the same period last season) and worsening of spring wheat condition during the previous week. Currently 68% of US spring wheat is in good and excellent condition (67% - previous week; 71% - last year).

wheat cme

 

 

UkrAgroConsult


 

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