The demand for wheat is growing. The markets are indicating a bullish tendency.
Friday, the CME showed a considerable increase in the demand for wheat futures. Most traders anticipate a poor harvest this season.
The chart of the September futures looks as follows: Kansas City - HRW - $312,68 per ton; Chicago - SRW - $311,49 per ton; Minneapolis - HRS - $348,88 per ton.
The major reason for such a considerable rally in the US market of wheat is extremely dry weather. Over 22% of the crop is in danger.
According to , not so long ago the tendency was bearish. However, the Academy’s experts had anticipated a major rally. As you can see, the forecast came true.
