The CFTC data for wheat and maize from 09 December 2014

The net long positions in wheat speculators 8767 contracts are increased to 4.652 net long positions in the reporting week to the 09.12.2014. So that a narrow majority of speculators on the buyer side, i.e. it is again are expected to continue rising prices. This development is contrary to the fundamental data that were released a few days ago.

The new Dec. 14 USDA numbers have only slightly compared to the previous month (sometimes in contrast to ' an expectation) changed. The wheat, the estimated final inventories for the WJ have increased 2014/15 compared to the previous month to 2 million tons. The stock to use ratio (closing stock consumption) is comfortable 27%, while the figures for the corn to the same tonnage has been reduced (stock to use ration 18%). In principle, the new USDA numbers provide little arguments for further rate increases, as the corn end stocks compared to the WJ should increase to 27 million tonnes in 2013/14. Why so the price rise in the past weeks? It remains only a "bubble" or the weaker expectations for the upcoming harvest (WJ 2015/16) weigh so heavily? Based on different facts it is 2015/16 no other end inventory increases in the cereals in the WJ. This resilient figures there will be only in the April/May 2015, so until then much can be fantasizing, but little resilient factors can be assessed.

Corn speculators in Chicago have increased in the last week of the report on total 230.194 net-long positions the net long positions clearly to 32.855 contracts. Prices on the stock exchanges in Chicago and Paris are increased accordingly. Capital shifts take place due to the "free fall of in oil rates" here?

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