Fluctuations on wheat futures markets intensified by speculators
The lower quotations are the result of international developments. In addition, speculators on futures markets, who want to make money quickly, play a role in wheat trading. This causes additional fluctuations.
This element is not new, but it seems that the fluctuations intensified by speculators will increasingly determine the market, sighs a trader, adding that the game of supply and demand is not becoming any clearer.
Cheap Argentinean and Australian wheat dominates market
Wheat prices fell to a 6-week low in Paris on Monday, but then recovered somewhat. The world market is currently dominated by cheap wheat from Argentina and Australia. This puts pressure on the European market. Another factor affecting the market is declining exports from Russia, which could lead to a possible rebound in prices.
Russian wheat exports fall
Russian weekly wheat exports were estimated at 390,000 tonnes last week by Russian consultancy SovEcon, down from 430,000 tonnes a week earlier. Russia’s exports in January are estimated at 2 million tons. In the same month of last year this was 3.6 million tons.
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