Since six trading days, the CBoT wheat prices are under pressure. You are now at the level of August 2006. The large world wheat stocks, as well as the resolute purchasing policy of the Egyptian Government press on prices.
Egypt, the world's largest wheat importer has yesterday reintroduced the controversial quality requirements with regard to the stocking of ergot fungus and thus pushes the provider before the head, again offered wheat than usual trading standards were established in the last month international.
Brokers in Asia are sure that there will be hardly much ergot-free wheat on the world market, as Egypt needs. "In very many parts something is in there."
