This morning, the wheat futures on the CBoT have left their 10-moms high, which they climbed in yesterday's session. Investment traders had caused this surge, which triggered this rally due to the dry and hot weather in the US Plains.
The fixed price of the US dollar, however, makes the necessary agricultural exports more difficult. The euro exchange rate against the US dollar fell to a 10-month low due to the Italian crisis.
Brokers in Far East Asia say this morning that the high price level encourages farmers to price hedging. Even investors who are guided by the fundamental development of the agricultural market would now probably liquidate their long positions.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
