CBoT: Wheat slid back below 5-year high

Chicago wheat futures this morning slid back below the 5-year high they hit in trading yesterday. The losses were limited by the drought in major exporting nations. The weather for harvests in the Black Sea and HRW growing regions in the United States continues to support the market, said Tobin Gorey, director of agricultural strategy at the Commonwealth Bank of Australia. Analysts continue to expect little rain in the dry areas of both cultivation regions. Rainfall across much of Ukraine has improved conditions for winter grain sowing and reduced concerns about the 2021 grain harvest after a severe drought, advisory firm APK-Inform said Tuesday. Institutional investors bought 7,500 contracts of CBoT SRW wheat yesterday.
Hansa Terminhandel GmbH
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