According to the results of trading on June 27 at the SWOT exchange, wheat prices reached their lowest level since February this year, falling to $ 332.2 (- $ 7.2) per ton, against the background of the promotion of winter wheat harvesting campaign in the US and low demand from US grain importers.
According to market operators, as of the beginning of this week, the winter wheat harvesting campaign in the United States should be 40% of the plan compared to 25% last week.
Note that these expectations were confirmed by USDA analysts: according to the results of the crop tour as of June 26, field work was carried out on 41% of the plan (+ 16% per week). At the same time, 30% of crops were in good condition (48% last year).
At the same time, some prices were supported by the delay in the wheat harvesting campaign in Argentina, as well as extremely unfavorable weather conditions in North Africa.
Source: https://www.apk-inform.com/ Image: Candice Candice from https://pixabay.com/