CBoT wheat to two week low

The CBoT Weizenfutures prices fall to a 2-week low. Due to the missing demand as well as a rapid progress in the winter wheat prices sink already the fourth session in a row.
Australian broker believe that the U.S. is now 70 cents per bushel to expensive wheat, to be competitive on the world market. Egypt's State-owned utilities GASC last bought 235,000 tons of wheat from Russia and Romania in an invitation to tender, which is to be delivered on August 21-31. The average price is $210,37 per tonne. In contrast, offers were U.S. 50 cents more expensive.
In the United States is the harvesting of the hard red winter wheat to 65% completed. In the previous week, there were still 55%.

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