Asian traders are forced to increase prices

25 Jul, 2017
Asian traders are forced to increase prices
Asian millers are concerned by the increase of global wheat prices, that rose by 30% in June, that leads to necessity of additional payments for previously contracted deals.

In June wheat futures in Chicago rose by 23% and that of high-protein spring wheat by 34%.

As a result, many Asian traders that have already concluded contracts for delivery of wheat in August - September are forced to pay extra.

At the end of June, supply of Canadian western red spring wheat was at 350 USD / mt, C&F at USD 260 / mt a month earlier. The US analogue of this wheat was sold at a price of 370 USD / mt (280).

Australian wheat did not stay behind as well. At the end of June, it was sold at 273 USD/mt. (243).