When the wheat speculator in Chicago, not much has changed in the reporting week to the 06.12.2016. The net short positions decreased to 2.589 contracts on now 115.920 net short positions. Prices on the Chicago Exchange have nevertheless remained under pressure.
Also markets calm returns slowly and trading activities are reduced to zero. Therefore the prices have in many cases only nominal character and yet is the one or the other operation with a still low level of marketing thoughts about a further marketing of part of. This can be quite right, because the most recent USDA figures nourish hardly hope for sustainably rising prices in the cereals. In contrast, the potatoes are to see where good conditions for free goods quite animate to part sales. A marketing of part of serves the diversification, to not everything on one card and to speculate less. Also the latest fundamental data for the cereals sound for the farmers not exactly reassuring. The wheat and maize production is estimated higher and the closing inventories grow according to the latest USDA numbers by December continue at. Compared to the last USDA data from November to grow the Getreideendbestände to 8 million tons on a total of 507 million tonnes. More wheat is expected in particular in Australia, while higher estimated corn production in Brazil and China. Total, the this year's weak European harvest can relatively easily be compensated by other exporting Nations. The stock to use ratio is 24.6% the grain even higher than in the marketing year 2009/10 with 23%, although at that time producer prices at a very weak level - some were below 100 euro / t -. In the United States are cereal prices currently also at a lower level than in the above mentioned year, only in Europe the courses are much better than 2009/10 because of the weakness of the euro - approx. 30% weaker than 2009/10 - helps the European farmers. The current situation shows how depending on producer prices not only of production and consumption, but also by political decisions or monetary policy influences . Are good arguments for a price increase for goods of the harvest 2016 but also for 2017 "rare" due to the fundamental data, only the weakness of the euro is at the European courses. The weather conditions for the new Einsaaten in the northern hemisphere "fit" largely. Especially in Russia expect a good result after the record harvest in 2016 for 2017, so the export pressure continues from there. On the other hand, the euro remains weak, have to worry about no significant price declines in the next few months.
Even when maize speculators in Chicago, not much was going on in the reference week to 06.12.2016. The net short positions decreased to 3.331 contracts on now 72.592 NET short positions. The courses in Chicago could get easily.
