The prices of CBoT wheat futures have been falling for three trading days and have reached their lowest level since mid-December this morning. USDA wheat stocks in the US and around the world were higher than expected yesterday.
In January there was a rally in wheat futures at the CBoT but the large stocks do not allow higher prices to be enforced on the world market. In addition, there are obstacles to the grain trade with China due to the corona virus, which also affects pricing. One wonders how long China can continue its import program.
National Security Advisor at the White House in Washington, Robert O'Brien said yesterday that the outbreak of the corona virus in China is likely to delay planned deliveries of agricultural commodities. 
Source
HANSA Terminhandel
