Precipitation in the US puts pressure on wheat prices

Wheat prices under pressure

Wheat prices on the Matif closed in the red again on Tuesday. May futures, which expire next week, lost €3.25 to €205.00 per tonne. September also fell by €3.25/tonne and closed at €226.75/tonne. There was no trading in Paris on Wednesday.

The US wheat exchanges came under pressure as abundant rainfall is expected, including in the drought-affected regions. In Chicago, July futures lost a total of 9.25 to 599.25 US cents/bushel in the last two trading days. Expectations for weekly US wheat export sales of the old and new crop are between 0.1 and 0.6 million tons. A revival is not expected, as Russia is also continuing to export wheat at record levels.

Precipitation in the US puts pressure on wheat prices
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