US wheat futures declined below the BSW quotes for the third time in this season
2012-12-19 14:46:15
On Dec. 18, the price for Black Sea Wheat futures contract with March delivery didn’t change again and amounted to USD 320.00. The price of March BSW contract has been steady since it began to be traded, i.e. during the last 12 sessions.
The price of US wheat futures became lower than Black Sea wheat futures. The difference between these futures is now 6.8%. Last time the same situation was on November, 16 with difference at 1%. Earlier US wheat quotes were below BSW by 10% in early June 2012 before significant increase of prices due to drought.