CBoT wheat prices are rising this morning as announced US rainfall wheat ripples were erratic and not productive enough to address areas affected by drought.
The courses were under pressure last week because after a long drought rain was finally announced. It was hoped that yield losses would be limited by this. This hope was disappointed at the weekend.
Traders in Asia report that the region was hit hard by the storm, and where it rained the least. Only a few of the really dry fields got rain and the meteorological services do not report much for the next few days.
However, summer wheat, corn and soybean courses could come under pressure as the warm and dry weather allows for rapid US field work.
Text: HANSA Derivatives Trading GmbH / / Graphic: Saxo-Trader 
