Last Friday, the week's trading at the CBoT ended up with rising prices for corn and wheat because of short covers before the today's U.S. holiday. Therefore, the courses easily recover from its multi-year lows.
Traders with short positions wanted to bring your portfolio to safety before the long weekend, "because you never know what can happen".
Corn prices on the CBoT on a seven-year low were dropped last Wednesday, after private crop estimates bpa expect very high average yield of 174,8. The Weizenfutures recorded on the same day on a ten-year low. These courses also rebounded slightly until the weekend. Sales readiness of U.S. farmers has decreased in the meantime, and it comes to a technical recovery of in prices on the spot market.
India has purchased 52,000 tons of wheat in the Ukraine in the last week, and experts expect that the land in this marketing period has to import up to six million tonnes, because there the strategic stocks have fallen below a critical limit.
