Even if the wheat prices at the CBoT show a small plus at the moment, they will probably end this trading week with the second weekly loss in a row. The world's large reserves and better weather conditions in some core export regions in the Northern Hemisphere continue to provide the basis for a large supply.
Favorable weather conditions and sufficient soil moisture during the sowing of summer crops in the Black Sea countries Ukraine and Russia support the expectation of another record harvest on the Black Sea.
As long as the grain stocks in Europe and Russia look good, you do not have to worry about the drought in the US growing regions, this morning's brokers in Far East Asia. In any case, the millers will not trigger a rally.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
