Even if the CBoT wheat future is trading a little bit weaker than yesterday at the close, it will probably be the biggest weekly gain in two months. The reason for this is the news from the crop tour in the US winter wheat regions, which were hit hard by a dry winter.
Yesterday, the CBoT wheat prices rose in the front month ZWN8 to 5.39 Ct / bu, the highest since July.
The market is processing the weak earnings estimates of the scouts, comments this morning a trader from Australia. And now all traders are convinced that the hard-red winter wheat crop in the US will be modest. In Kansas it could become the smallest wheat crop since 1989.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
