CBoT wheat now close to 6 year high

CBoT wheat futures prices rose nearly to a six-year high yesterday as harvests in some core growing regions of the world are in jeopardy and supply problems could arise. Wheat prices on the derivatives exchange in Chicago have been rising continuously for three weeks.
We are currently recording the highest price since December 2014. Analysts say that dry weather is the main price driver.
Weather services do not yet expect any improvement in surface moisture in the soils in the Black Sea region and in the USA. If that doesn't change soon, the problems will only get worse.
Because of this, Chicago wheat prices so far this week are up 4.5%.
The Argentine Rosario Grains Exchange lowered the forecast for the upcoming wheat harvest from 18 to 17 million tons. Drought and frost had made the vegetation conditions worse.

Hansa Terminhandel GmbH
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