The market for American wheat fell lower. Affected by the lack of fresh fundamental news, but mostly a sharp drop in March contracts on the neighboring corn market. There investors decided to take profits after the recent 3-day rise as well, largely because of the unpredictability of trade policy D. trump.
Experts fear that the revision of the free trade agreement with Mexico and Canada (NAFTA) and rejection of Pacific Trade Partnership could have a negative impact on the export of grain from the United States. The Minister of economy of Mexico has threatened that his country would emerge from NAFTA if renegotiation will have for negative consequences.
In addition, the result of yesterday's trading, grain contracts affected by the strengthening of the U.S. dollar.
Still, the trend is bullish as long as January. With the beginning of the year soft wheat in Chicago rose by 6.89 $/ton.
March quotes of the American wheat have decreased:
soft wheat SRW in Chicago for $2,39 to 156,80 $/ton
hard wheat HRW in Kansas city for $1.10 to 162,31 $/ton
hard spring wheat HRS in Minneapolis by $1.29 to 206,04 $/ton.
Translated by service "Yandex.Translation"
