CBoT wheat futures on a weekly high

The fears of a deteriorating state of North American winter crops brought the CBoT wheat prices up to a one-week high yesterday.
Despite bullish fundamentals, traders shy away from the risk of price pressure on all US agricultural commodities. Today, they are waiting for the outcome of the US midterm elections. Export data on cereal exports, although not outstanding, are helping to maintain price levels, despite a generally bearish sentiment.
Only 51% of US winter wheat stocks received the top grade "good-to-excellent" on Monday (previous week: 53%).

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