Rabobank: in 2015-2016 the price of wheat on the CBOT will remain at the current level
According to Rabobank analysts, despite concerns about dry weather conditions established in the U.S. grain belt, expectations for the future pricing of wheat futures in 2015-2016 remains neutral.
The experts believe that during the II quarter of this year wheat futures will trade at $5.4 per bushel ($198.4 /t) on CBOT, while May grain contracts are currently trading at $5.36 per bushel ($196.9/t). The given figure is expected to grow to $5.5 per bushel ($202.1 /t) in the III quarter and to $5.6 per bushel ($205.7 /t) during the IV quarter. Presently, current July and December contracts are trading at $5.35 and $5.58 per bushel ($196.6 /t and $205.0 /t), respectively.
However, at the beginning of 2016, wheat futures on the CBOT are expected to decline to $5.4 per bushel ($198.4 /t) against current January contract ($5.7 per bushel ($209.4 /t)). In the II quarter of 2016, grain futures will remain at $5.4 per bushel ($198.4 /t), while the current May contract for 2016 is trading at $5.79 ($212.7 /t) per bushel.
