Yesterday December futures for wheat updated their October high, and are currently traded by 887 dollars per bushel.
In this reference, price for wheat have been kept within flat since the end of July. The price is kept from falling by USDA reports, which prove to be worse than expected every month, as informed by Commodity Trading Department of .
At the same time, the price cannot rise due to:
- firstly, its high correlation with corn and soybeans, which pull it down,
- secondly, high export sales.
