This morning, CBoT wheat futures prices fall 1%, extending losses from the last three days to 3%. The world wheat stock is just too big. Nevertheless, this week still has a price plus, as well as the week before. The reason for this is the poor vegetation conditions in the US growing regions.
The weekly plus of CBoT wheat futures is currently 1%.
The USDA had estimated an all-time high for end-of-year stocks for wheat last Tuesday at 271.2 million tonnes for the 2017/18 season, and noted sluggish demand.
In the previous week, the US exported only 188,700 tonnes (old and new crop), less than expected by market participants.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
