CBoT wheat futures are losing this morning as the global supply situation is good. The quotes are currently trading at a three-day low.
Prices are under pressure as the USDA has estimated the world's final wheat stocks at a record high of 271.2 million tonnes on Tuesday.
Sales pressure also comes from the fact that Russia's currency is under massive pressure. This will make the offers from the Russian Black Sea region cheaper and reduce the chances of wheat from the EU or the USA being used in international tenders.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
