Main Crops quotations at SWOT keep growing on July 3d
Main Crops condition has not been changed, according to the last USDA crop report, while many market participants were expecting it to be improved, as the weather setteled in USA. In addittion to that a high speculative sales activity has been recorded right before The Independence Day July 4th, when the SWOT Stock market is closed. Wheat quotations rose up to 178.5 (+1.5) euros/ton at the Euronext Platform on July 3d. Not only wheat futures growth, but also arid weather conditions in EU have affected the crop prices. Another support factor was the announcement of tender for grain purchase by Algeria, which is the main importer of wheat from the EU.