Speculators again heated wheat market USA
last week, speculators managed to inflate in the American wheat market, a large "bubble" loudly exploded on Friday. But it seems that this week we will observe the repetition of the situation. Since Monday the market has warmed up to speculation.
on Tuesday, the wheat in the United States continued to grow against the closure of the investors short positions, although all possible fundamental factors are bearish in nature. The condition of winter crops improved, but exports remain weak.
the Only thing supporting the wheat market, is the weakening of the dollar.
the May futures for U.S. wheat has risen:
- in Chicago 3.12 $/tonne to 176,28 $/tones of soft wheat SRW,
- in Kansas city by 1.38 $/tonne to 171,31 $/tone for hard wheat HRW,
- in Minneapolis at 2.30 $/tonne to 196,21 $/tones hard wheat HRS.