Wheat: Traders in Australia see uptrend intact

The CBoT wheat futures can recoup some of yesterday's hefty losses this morning. The yield losses in some surplus regions of the world are probably larger than expected.
Russia's Minister of Agriculture sees no reason for export restrictions, but the harvest in 2018 is much smaller than in the previous year due to the dry weather. Therefore, traders in Far East Asia also expect no price slump. The trend is still up, according to Phin Ziebell, the agricultural economist at the National Australian Bank.
Graphic: Saxo-Trader

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