The courses of the CBoT wheat rose in the past week to 7%. That was the biggest rise since the middle of November. Alone yesterday increased the quotes for the front month to 33 ct / bushel.
In the U.S. Plains are heavy rains predicted, may be bringing harvest losses. In the farming Center of hard red winter developed a pattern of weather that storm and heavy rain. During the sowing last autumn, the wheat stocks were already due to drought in danger. In April came the rain while on time a bigger disaster to prevent, though now used the areas under water, the operators of the crop are very insecure.
All is associated with the El Nino weather phenomenon, which causes many heavy rain events, for example, the southern States of the United States in the northern hemisphere in summer. In Asia it however, scorching hot so that staple food such as rice can suffer.
Funds bought wheat last 15,000 slots, to cover their short positions.
