In the reporting week to the 21.07.2016, the net long positions in Chicago wheat 11.816 contracts have reduced to 20.605 net long positions. If one considers inter alia the graphic can be assumed by a further price pressure.
The wheat crop is progressing in many parts of the world and similar to average results on yield and quality are expected as at the harvest started with us. The usual (mostly political) uncertainty factors (Black Sea, Greece, El Nino, etc) remain, but change not the expected above-average global wheat supply in the WJ 2015/16.
Maize is the main exporter, the United States, but so slowly in the income decisive phase. In the main production areas moist and warm weather is predicted for the next 14 days so that precedes the development of yield well. Therefore, currently no support for the wheat prices can be expected, even if the Europeans need more corn than in average years are import on the part of the US maize.
Wheat prices thus not only harvest-related are under pressure, so maybe one or the other still consider should be to negotiate before the delivery of the producer price or to sell a subset.
In the Rhineland for bread wheat, currently about 160 euro / t ex. Harvest free •sensors offered. Feed barley made approx. 15 EUR per tonne of less, while the feed wheat is rated lower than the bread wheat approx. 5 EUR / t.
When the corn speculators in Chicago the net long positions to 76.918 contracts have accumulated further on 279.665 net long positions. Thus, the highs of recent years be exceeded. Prices eased yet and that perhaps is not the "last word".
