02.
12.16
07:35

CBoT wheat has biggest one-week drop since 3 months

Today, Chicago wheat rises tomorrow for the first time in seven trading sessions. The market is still on its way to its biggest one-week drop for three months, as in the southern hemisphere, a wide range of wheat is grown, putting prices under pressure.
The expectation of a bumper harvest in Australia, the world's fourth largest wheat exporter again ensures price pressure, after already in the summer in the northern hemisphere, lush offers overextended the world market demand. In addition, the weather forecasts for the next year's crop in the North have improved.
Weather services in the United States say for which so far to dry plains, that is before the US winter wheat region, snow. Temperatures should fall season-typically, but do no harm.

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