Wheat quotes on stock exchange decreased 4%

By the results of trades on July 11 at СВОТ, wheat quotations went down by 4% to USD 172.5 (down USD 7.3) per ton, APK-Inform writes.

Wheat futures developed in correlation with the quotations of soybeans again, which by the end of trading declined by USD 8.3 per ton to USD 304.8 per ton after the US President Donald Trump announced a possible 10% increase of duty for importing Chinese goods with a total value of USD 200 billion.

Favourable weather conditions in the US put pressure on prices, which may contribute to high grain production in the year 2018.

On July 11, wheat quotes on Euronext also dropped to EUR 178.75 (down EUR 2) per ton.

Previously it was reported that on July 10 Egypt had purchased 175 thou. tons of Russian origin wheat with a delivery date of 21–31 August 2018.