Smaller wheat sowing area in the USA and Canada helped the prices
The beginning of the week on world stock exchanges saw an increase in the prices of grain futures, especially wheat. Prices dropped by more than 20 percent on Friday. increase in wheat and corn stocks in the USA as of June 1 this year. (y/y) turned out to be temporary, at least for now. It seems that investors were more influenced by the information about the forecasted smaller area of wheat sown in the USA and Canada.
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Wheat in the September delivery contract on MATIF rose by 2.4% yesterday. and cost EUR 230.25/t (PLN 990/t), and on a y/y basis the prices dropped by 2.6%. The price of corn on the Paris Stock Exchange in the August contract increased by 1.2%. and amounted to EUR 210.15/t (PLN 904/t), and over the last year it decreased by 12.0%.
The price of wheat in Chicago increased nearly 3 percent.
Wheat on CBoT in the July contract increased by 2.8%. and cost USD 209.16/t. On a y/y basis, the prices fell by 10.5%. The price of corn in the July delivery contract on the Chicago Stock Exchange increased by 0.3%. and amounted to USD 156.79/t, and over the last year it decreased by 28.2%.
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MATIF wheat, September contract – price increased by 2.45%. (EUR 230.25/t – PLN 990/t).
Chart 1.
The quotations of September wheat futures contracts expressed in PLN are presented in the chart below:
Chart 2
In the continuation chart below of wheat contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is upward, and the short-term trend is upward.
Chart 3
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CBOT wheat, July contract – price increased by 2.85%. ($209.16/t- PLN 919/t).
Chart 4
The Chicago Stock Exchange is currently dominated by a long-term downward trend, a medium-term upward trend, and a short-term upward trend.
Chart 5
MATIF corn, August contract – the price increased by 1.20%. (EUR 210.25/t – PLN 904/t).
Chart 6
The quotations of August corn futures contracts expressed in PLN are presented in the chart below:
Chart 7
In the continuation chart below of corn contracts listed on the Paris Stock Exchange, the long-term downtrend dominates, the medium-term trend is upward, and the short-term trend is upward.
Chart 8
CBOT corn, linden contract – price increased by 0.25%. ($156.79/t- PLN 626/t).
Chart 9
The continuation chart of corn contracts listed on CBOT is dominated by a long-term downward trend, a medium-term upward trend and a short-term upward trend.
Chart 10