CBoT wheat on the upswing again

The prices of the CBoT wheat futures rise again this morning, compensating in part for the losses of the last two trading days.
There have been some losses in recent days, but the droughts in Australia, the Black Sea and parts of Europe are pushing up prices again. However, the upside potential is limited as the supply is still plentiful, my National Australia Bank dealer this morning.
World wheat production is expected by the IGC at a 5-year low. Summer wheat production in North Dakota is lower than the 5-year average and high temperatures limit yields. The world harvest is likely to fall below the last USDA forecast.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader

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