This morning the prices of the CBoT wheat futures are falling for the first time in four trading days. Nevertheless, the week is likely to end with the largest price increase in the past two months. This is because Russia, the world's largest wheat exporter, expects a smaller harvest.
This could change the global balance sheet, but there is no shortage in sight.
Because the weather conditions in Russia are not favorable, the wheat courses are increasing. The Russian consulting firm IKAR yesterday estimated the 2020 wheat harvest in the country at 76.2 million tons, after 77.2 million tons in the previous forecast.
There is also a lot of discussion about adverse weather conditions in Europe and the USA.
The political tensions between the United States and China are getting new food almost every day. 
Source
Hansa Terminhandel GmbH
