Yesterday, the CBoT wheat prices rose to its highest level in the month of the month for nine months. Reports from participants in a crop tour in the southern plains of the USA drove the prices up.
Yield estimates for hard-red winter wheat in northern Kansas are only 38.2 bushels / acre (bpa). Dealers in Singapore say this morning that they are expecting earnings problems in the US and Australia, so buyers will probably have to pay more.
Australian farmers are sowing their wheat in as dry a soil as they have not in years, after the harvest was already the smallest in a decade in the world's fourth largest wheat exporter in 2017/18.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
