Fungal disease is pushing fund managers from their wheat short positions

Due to short covers of the Fund, the front month of CBoT Weizenfutures on Friday briefly recorded with $5,34 on a two-month high, before the courses back again commuted at the end of the session. In Oklahoma, the major wheat growing region in the United States, they had discovered a fungal disease of wheat. After the massive rains, wheat for fungal diseases is very vulnerable. The harvest begins end of June.
Brokers in Tokyo expect more short covers, which are likely to heave prices back over the mark by $5.3 for this week. Dealers wait eagerly on the USDA report, which will be released on Wednesday at 18:00 BST. You will find a first evaluation shortly after 18:00

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