When the wheat speculator in Chicago, the net short positions have reduced in the reporting week to the 12.01.2016 significantly to 25.015 contracts on now 71.128 NET short positions. Prices recovered to some extent as a result.
Also the most recent USDA figures from the January 2016 contain little course-enhancing signals. The wheat the closing stock from the previous month to 2 million tonnes have increased, first and foremost, a drop in consumption is responsible. The stock to use ratio rising to record-breaking 32.4%, as high as since the beginning of the Millennium no longer. In the estimation of the coarse grain, it was reverse, end stocks fell by 2 million tonnes, especially because the production but also the consumption in the WJ 2015/16 was estimated lower. The stock to use ratio is 19.4% also far above the average of in recent years and only slightly lower than at the peak at the beginning of the Millennium. With a stock to use ratio of 24.1% for the whole grain consumption the proportion of the final stock is significantly higher than in the final low price stage in 2008/09. Thus, it is feared that the prices remain under pressure. Ultimately, the weak euro exchange rate helps the local grain prices, the euro was much stronger in the mentioned low price period and amounted to 1.40-1.50. A ray of hope for farmers is what until 2016/17 will affect the estimate in the next financial year the wheat acreage in the United States, significantly lower estimated over the previous year.
In the reporting week to the 12.01.2016 you increased when the corn speculators in Chicago NET short positions to another 24.843 contracts now 186.831 NET short positions. This is the highest level in the last three years, prices remain under pressure as a result.
