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Wheat Weakens, Rising U.S. Inventories

Liputan6.com, Jakarta: The price of wheat this Thursday afternoon (8 / 7) has decreased due to the speculation that U.S. inventories of wheat in the last eight months has increased by 2.1643 billion bushels. This figure is higher than the previous inventory that reached 2.067 billion bushels.

At the same time today, the Russian Agriculture Ministry said that the current wheat production will increase following the conducive weather. Wheat futures for September fell by 0.7% to 5.27 dollars per bushel. Yet Thursday morning touched 5.2875 dollars per bushel level. According to analysis from the Division of Research in Vibiz Vibiz Consulting, the movement of wheat at today's move is expected to still depressed in the territories is limited between 5 to 5.5 dollars per bushel level. (Http://www.vibiznews.com/MLA)