The price of wheat and corn in Chicago is increasing due to speculators
Friday on the Chicago stock exchange quotations of December futures for wheat and corn began to grow rapidly, even in the absence of fundamental factors on the market.
Speculators have been actively buying, because it was expected to reduce sales by manufacturers on the eve of thanksgiving. Corn futures rose 1.7% to of 139.86 $/t
Weather conditions are conducive to planting season in South America and the maize harvest in the US, where already threshed 85% of the area and the yield corresponds to the projections USDA.
Wheat continued to rise for the second consecutive day due to the drop in the dollar, which provoked the scepticism of the markets about the ability of Republicans to hold a congressional bill to reduce tax rates.
the December futures for U.S. wheat has increased:
1,84 $/t to 155,05 $/t for hard wheat HRW in Kansas city,
1.75 $/t to 233,32 $/t for hard spring wheat HRS in Minneapolis.
- 2.11 $/t to 156.98 $/ton, soft wheat SRW in Chicago