An important "pointer" to the further (at least short-term) price is the net positions on the exchange. The wheat speculators in Chicago responded in the last weeks with a clear exit from the seller's warehouse. Out of 120,000 net short positions within week 18.003 net long positions were, as much as 2 years no longer. This pulled the current courses in Chicago - as shown in the graphic - significantly upwards by about 30 euros / t up.
In the corn speculators in Chicago, too, the seller's stock (net short positions) clearly lost approval. A week loss of 59,404 contracts resulted in 46,715 net short positions. The courses in Chicago have increased accordingly.
