Wheat prices surged in the US on Monday morning.

At 9:59 am (Brasilia time) this Monday (18), the July wheat contract traded on Chicago Board of Trade (CBOT) It was trading with a significant increase of 22.00 points and 3.46%, quoted at US$ cents 657.75/bushel. Kansas City Bank Exchange (KCBT)The grain rose 13.75 points and 2.00%, to US$ cents 701.75/bushel. On Friday (15), cereal futures fell 3.38% in CBOT and 2.45% in KCBT, quoted at 635.75/bushel and 688.00/bushel, respectively. On the other hand, during the week, the assets appreciated by 2.71% and 1.81%, respectively. This morning, cereal prices were driven by the announcement of White House that China will purchase at least $17 billion worth of U.S. agricultural products over the next three years.The new trade agreement was formalized after negotiations between the President Donald Trump and its namesake Xi Jinping, during the visit of the leader of United States the Beijing last week. The agreement also provides for tariff reductions and increased Chinese purchases of American beef and poultry. Furthermore, adverse weather conditions in North American producing regions They also provided support for the quotations. According to the US National Weather ServiceFlood warnings have been issued for parts of Nebraska, Kansas and Missouri, following the passage of severe storms in recent days. Meanwhile, in parts of the states of Oklahoma and of Texas, the agency reported that the dry weather will remain predominant, with strong gusts of windOn the radar, the market awaits the release of the weekly export report. U.S. Department of Agriculture (USDA), as well as updates on the conditions and stages of North American crops.

This text was translated by machine from Brazilian Portuguese.