Lower wheat harvest estimates despite rainfall

Wheat prices are rising again in Chicago this morning after the USDA yesterday gave the crop ratings for winter wheat worse than the market expected. Since rain is now expected to fall in some dry winter wheat growing regions in the northern hemisphere, the price increase will be slowed down.
Weather frogs are now confident that soil moisture will finally be improved in the previously much too dry growing regions in the USA and on the Black Sea. Nevertheless, one should not lose sight of the plant development in the affected regions, if only because the next harvest estimates will be lower.

Hansa Terminhandel GmbH
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