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Chicago: wheat-folds down with the rise in the dollar

The price of wheat on hand in Chicago has declined on Friday following a clear progression, weakened in particular by the rebound of the dollar. The corn is mounted, and soybean remained stable.

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After several sessions of retreat in the face of a basket of other currencies, the greenback is on the rise again, driven by a surprise drop in unemployment in the United States, according to the monthly report of the department of Labour. The rise of the u.s. currency tends to weigh on the prices of agricultural products, denominated in dollars, making them more expensive for investors with other currencies. The wheat has also declined, after having climbed nearly 2.5% the day before: many market participants have chosen to take advantage of this movement to make a profit in the shedding of their contracts.

The Corn brought by the increase in oil prices

For its part, the corn has grown, driven among other things by the sharp increase in the price of gold black Friday, as the Organization of products exporters of oil (Opec) and its partners will focus Saturday on the continuation of their agreement on production quotas. A large part of the us production of corn is destined to ethanol production, a biofuel. Its course follows so often the movements on the oil market.

soy has finished the week in the balance after the announcement of two new sales, respectively 258.000 tonnes and 330,000 tonnes of the oilseeds, the united states, which must be delivered to unknown destinations, according to the u.s. department of Agriculture. A bushel of corn (about 25 kg) for delivery in July, the most traded, ended Friday at 3,3125 dollars against 3,2900 dollars Thursday (+1,06%). A bushel of wheat for delivery in July, the most active, finished at 5,1525 dollars against 5,2375 dollars at the previous close (-1,62%). A bushel of soybeans for delivery in July, the most traded, finished 8,6775 dollars, as before.

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