12.
11.18
06:32

USA take over the wheat market in Q1 and Q2 / 2019

After three trading days of falling prices, the CBoT wheat will rise again this morning. A better demand for US wheat is expected. The fixed US dollar, however, puts a lid on it.
The rise in the dollar exchange rate to a 16-month high against the basket of other major currencies is explained by the Federal Reserve's monetary policy in the US, which wants to maintain its interest rate policy. It will not be easier for US suppliers to export.
Therefore, the wheat prices at the CBoT were under pressure in the last week, especially since exports were below market expectations. Russia is still dominant in international tenders.
However, market participants now expect US wheat exports to compete with export prices in Russia and other Black Sea countries. In the first half of 2019, they believe the US will take over because supplies and harvests in the Black Sea region and Australia are smaller. This will support the wheat courses at the CBoT.

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