Short-covering by fund companies, as well as further rate increases for MATIF wheat could close the CBoT wheat quotes again firmer on Friday.
On the electronic exchange of the night, this trend continues this morning.
At the Paris MATIF the rally at the Weizenfutures continued, in the last two trading days increased prices by nine percent. Storekeeper to liquidate their short positions, as it now turns out that they had sold more than the harvest there. The assessment of French wheat stocks is deteriorating, FranceAgriMer on Friday morning. Only 42% of the wheat stocks were rated the best grade "good to excellent". A week ago, there were still 49%. 17% of wheat were harvested now through Monday in France (previous week 7%, on the same date last year 53%). The ODA group expects less than 30 million tonnes of wheat in France (previous year 41 million tonnes).
