15.
06.15
06:59

CBoT wheat again under the five-dollar mark

Today, the rate of the front month in the CBoT Wheat futures falls tomorrow under the five dollar mark to its lowest level for two weeks. In which is expressed wheat concern for a high supply and weak demand for U.S. made.
Already at the end of last week the rates are 2.6% fell from its two high of month on Wednesday, after the USDA U.S. closing stock had lowered its harvest estimates for winter wheat and that for 2015/16. Heavy rains in the Central and southern U.S. growing regions for hard red winter wheat (HRW) increased the amount of harvest, let but also concerns about the quality of grain come up.
The provider under the weight of large stocks suffer more than other exporters of the world, so that the futures contracts remain under pressure well, U.S. says Tobin Gorey analyst at the Commonwealth Bank of Australia this morning in a circular. The weather forecast promised still more rain in the next week U.S. HRW areas, after a dry period of weather to come. Continued rainy weather, the prices will probably continue to fall.
The demand for U.S. wheat on the world market remains weak meanwhile. Egypt, the world's largest wheat buyers bought 240,000 tons of Russian and Romanian wheat in a tender to supply July last week during the period 11-20. Now the Egyptian stocks should be enough until January 2016.

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