Speculators in Chicago increased their net short positions to 11.662 positions report last week at the wheat on overall 78.928 NET short positions. Thus, the "seller"trend reflects the significantly lower prices. The courses in Chicago are on the level of poor rates of harvests in 2008 and 2009 and a recovery is currently not in sight. In Paris, the courses has fallen since April of this year by 30% and always closer the 2008 / 2009 harvest rates. If also the European wheat has gained more favourable euro/dollar exchange rate through the export competitiveness, the Russian exports are hard to beat and the Russians finally are the direct competitor in North Africa and the Middle East.
Alone the corn speculators are slightly more optimistic, the net-long positions took off although to 5.509 contracts on 81.536 net-long positions, but buyers still prevail at the speculators. This is certainly also because that can be the corn courses at the worst level since 2006 and at the moment hardly imagine even deeper courses in Chicago (equivalent of 100 euros / t). In Paris which looks similar to, if there are 30 euros per tonne over Chicago the courses. In any case, it seems right that maize prices rather have at the bottom as in the wheat.
