The CBoT wheat futures can extend their profits this morning. The May 2018 front month is nearing its eight-day high, as market participants fear that the drought in US growing regions over the last few months has produced earnings. Field crops are rated as poorly as they have been for 16 years.
It has been raining there last. But the USDA rates the field stocks much worse than expected. At least this morning is the reason for the rise in price from the point of view of Australian brokers.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
