According to U.S. analyst said that if the United States and other major producing countries continued bad weather, then this spring, the Chicago Board of Trade (CBOT) wheat futures prices could more than $ 8.50, reach $11. vegetable washing machine
Analysts said the Australian wheat crop affected by excessive rainfall, while the U.S. winter wheat growing areas' weather is still dry, causing market worries about global wheat flour shortage, which will support the wheat market during the spring. But in the second half of 2011, wheat prices may fall, at that time Northern Hemisphere's wheat harvest will be restocking. He believes that wheat futures prices will be fluctuated between $ 8 and $ 10.
Analysts initially thought that U.S. wheat prices will show an oscillation good range this year, but the weather situation is difficult to predict. Weather situation makes many uncertainties prospects in wheat production.
In 2010, U.S. wheat prices rose 46.7%, all gains are concentrated in the second half of year, because the U.S. wheat acreage down, and dry weather in the Black Sea, forcing the Russian ban grain export. Germany, Canada and Australia wheat crop were affected by excessive rainfall, while the U.S. winter wheat growing areas' weather was dry in recent dry, adding to the global market worries about high quality wheat supply. vegetable washing machine
Analysts said the U.S. wheat price's first target level at $ 8.50, if the weather problem exacerbated, then the wheat price is expected to increase reach $ 11. Since 2008, wheat prices have never exceeded nine U.S. dollars.
Since March 2008, wheat spot month contract was never more than 11 U.S. dollars.