Short covers and buying activity by fund companies after the recent decline could be the wheat prices in Chicago yesterday with powerful serves. Further assistance came from the weaker dollar, which increases the competitiveness of U.S. wheat in the export market. In the southern U.S. Plains, where the wheat harvest soon to begin, dealers fear loss of quality after last much rain. Fund companies reduced their holdings of net short positions to 3,750 CBoT wheat contracts. The electronic exchange of the night is something solid to the hour.
On the Euronext in Paris, could not benefit from the positive requirements of overseas wheat prices and traded unchanged to slightly weaker. In parts of Europe, particularly in the North of France, uncertainty about possible negative effects on the quality of wheat persists after the heavy rains since last weekend. French wheat exports outside the EU reached a record profit of 1.55 million tonnes in May.
