18.
08.14
16:32

The CFTC data for wheat and maize from 12 August 2014

The net short positions when the wheat to 5.909 piece on 61.124 NET short positions have declined in the last week of the report. Thus the pressure on prices in Chicago is something, while Paris trembles with just over 170 euro / t a new all time low against. The capital is like a shy deer and the thunder of cannon in the Eastern Ukraine currently prevents a further reduction in the rates because many investors invest again in these times in the supposedly safe agricultural commodities. The new USDA numbers give no arguments for rising prices. On the contrary: the world end stocks for the wheat (3 million t agai. Last month) and coarse grains (also + 3 Mt agai.) Previous month) were increased again. This increase of closing stock was in particular by increased production (particularly in Russia, China and the Ukraine) and caused only partial compensation through an increase of in consumption. The modified estimate had already indicated himself and was priced by the speculators already in the courses. Therefore also the stock market showed little reaction in Chicago after the publication of the figures. However, it must be noted that the total corn end stocks compared to the previous year slowly but steadily risen on now 24 million tonnes (in May 14 was the Flash estimate, only 7 million tonnes). After the rise of closing stock in the WJ 2013/14 of 46 million tons, the total stocks of cereals end now 415 million tonnes are a relatively stable cushion. It is to be hoped that while weaker this year - but in a worldwide comparison relatively good - qualities on the world market continues to experience a good demand for the local farmers. EU wheat is likely to remain increasingly in demand as a result of the trade policy uncertainties in countries on the Black Sea.

In Chicago maize, the net-long positions slightly to 4.023 piece on 67.665 net-long positions has declined. The rates remain this and across the Atlantic on the same level.

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