This morning, its rally from yesterday continues the CBoT Wheat futures. Overall prices rose in the front month July 15 4%. Yesterday, the USDA had expressed about the condition which concerned U.S. wheat stands. Analysts concluded that the balance of wheat could significantly change the heavy rain events of the past 14 days. This then resulted further taking offsetting positions of short positions, which had rebuilt the fund companies in recent days.
Despite the small rally we saw yesterday, the wheat stocks in the weekly report of seed stand of USDA with 44% were rated good to excellent, 1% less than in the previous week; in the previous year, the value on the same date was only 30%.
