Wheat futures set a new record
Wheat futures fell to new lows for the last 6 years in Chicago and Paris stock exchanges. This was told the senior manager of commercial strategy AgroGeneration Sergey Kurbatov in his blog on Latifundist.com.
The expert believes that the cause was a technical factors such well-founded fundamental reasons: the level of reserves and record production.
«Speculators actively „short“ wheat (selling) reached record volume of net short positions, and only this week began to slowly close», — says Sergey Kurbatov.
Saudi Arabia entered the tender and bought 880 tons of wheat, confirming the fact that demand for grain is stored.