02.
09.14
20:09

The CFTC data for the wheat and maize by 26 August 2014

In the reporting week to the 26.08.2014, the net positions at the Chicago wheat took off again to 3,880 contracts on 46.798 NET short positions. Mathematically, this was due to the increase in long positions to 2,621 units and acceptance of short positions to 1,259 units. Considering this the course development on both exchanges and across the Atlantic, as can be seen a convergence of American and European rates. The differences amount to just over 20 EUR per tonne, which is justified by the stronger euro against the dollar. Thus, the euro is as strong as for a year No more and thus hamper the export opportunities to the United States. However, a critical component for the further development of the course will be the further development in the Ukraine. This crisis has grown from a regional conflict long ago to a global problem.

In the reporting week to the 26.08.2014 the net positions at the Chicago corn have increased to 3.567 contracts on 67.593 net long positions. Reason for this was the stronger growth (+ 6.466) long positions towards the short positions (+ 2.899). Because hardly changed net positions take into account the relatively unchanged exchange rates in Paris, especially in Chicago. The courses in Paris are however stronger under pressure due to the upcoming maize harvest in Europe, so that the current differences in price of 45 Euro / t can shrink further. Thus, the lush maize harvest expected in Europe may result in a further price pressure of the corn and feed grain as feed wheat and barley. It is questionable whether the bread wheat can entirely escape this development.

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