30.
12.16
08:00

Wheat prices lost 13% in 2016

The courses of the CBoT Weizenfutures can contend this morning because of the exchange rate of the US dollar supports prices. On the last trading day of the year 2016 13% are accrued but since the beginning of the year losses, because the crops were very large almost everywhere in the world. It is already the fourth year in a row that gave up wheat prices.
Now, the providers hope that the trend will soon change, because the wheat consumption was still never as high as at present. A supply problem could bring the reversal.
At the beginning of the month, the USDA had its estimate for global wheat production 2016/17 on a raised a record amount of 712 million tonnes. 240 million tonnes in stock at the end of the marketing period will remain in the currently sluggish demand.
Yesterday Morocco's State grain purchasing companies had launched a tender for the purchase of 363.363 tons to EU wheat and 363.636 tons of US wheat ONICL. More 327.273 tonnes of durum is searched.

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