Weaker US dollar and fear of loss of quality driving wheat prices

With the rise of more than 7% in the last three sessions, the highest price reached the CBoT Wheat futures for eight days. The fear of weather damage drives the funds out of their short positions. A weaker U.S. dollar also improves the competitiveness of U.S. wheat, unless the hard red winter wheat in Texas and Oklahoma the heavy rainfalls in the last month not the quality deteriorates.
Although the world market is overall very good care and deficits are also not to be expected, brokers in Singapore morning are now using more rate increases. When this message, the investors want to stay not short and the weather premiums caused by taking offsetting positions.
Meanwhile, the analysts already on the next USDA report speculating on June 10, where it will be arguably first notes on the weather on the wheat, corn and soybean harvest. In the may report the wheat were misjudged U.S. closing stock 2015/16 by the USDA with 793 million bushels even significantly higher, than the market expectation.Image removed.

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