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Extreme cold in USA raise the price of wheat
A powerful cyclone with strong frosts and winds covered the territory of the United States from North and South Dakota to Maine. In Minnesota, the temperature broke the record 1800 and dropped below 50C. In Chicago the night temperature fell to -27C, which is considered the minimum in 1985.
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On Wednesday, the price of wheat in the USA affected by the loss on the Egyptian tender. However, prices were supported by cold weather which can cause damage to winter crops.

March wheat futures rose:

0.73 $ / t to 184,54 $ / t for hard winter wheat HRW in Kansas city

1.19$. / t to us $ 209,99. / t for hard spring wheat HRS in Minneapolis.

1.29 USD. USA / MT to $ 189,87. US $ / tonne for soft winter wheat SRW in Chicago

On the Euronext investment funds increased long positions in wheat futures c 10155 lots last week to a 18221, which helped them to recover from eight-month low last week.

March futures on the Euronext milling wheat remained at the level of 205,75 € / t or 236,51 $ / t

Demand from buyers remains low, therefore the export prospects for European wheat are not yet clear. Argentina is increasingly supplying wheat to the market of Algeria, therefore, only the reduction in prices of French wheat and increase its competitiveness.

Turkey gained 292,5 thousand tons of wheat with a protein content of 13.5% price 260 $ / MT CFR, and Jordan next week will hold a new tender to purchase wheat.


Photo: Grcorp.ru

Translated by service "Yandex.Translation"
Источники: IDK.Эксперт
Monday, 25 January 2021
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