02.
09.20
05:18

Strong demand for grain - wheat prices at 5-month high

After the prices of the CBoT wheat futures reached a five-month high yesterday, today's day starts with small losses. The losses will remain manageable, however, because there is good demand for US wheat. Fundamental analyzes show that the supply and demand situation for wheat is bullish. The farmers in the Black Sea region are currently not selling anything that noticeably reduces the supply on the world market. The expectation for a larger supply of wheat from Argentina and France is also low. In addition, China will continue to increase its corn imports. There, the prices for staple foods are rising to their highest level in a decade. In China there could be a shortage of corn supply for the first time this year. According to the analysis of analysts and traders, 30 million tons are missing, which corresponds to 10% of the harvest in China.

Source
Hansa Terminhandel GmbH
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