The prices of the CBoT wheat futures rise again this morning for the third consecutive day. Supports the drought in the major export nations of the USA and Australia. There are expected loss of income there.
Nevertheless, traders in Far East Asia do not believe in a rally, as the world market is well supplied with wheat.
Australian farmers sow their wheat for harvest in December in the driest soil for years. The continent is the fourth-largest wheat exporter in the world. If it rains there until June, the fear of yield losses but probably gone again.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
