17:33 - 6.04.2026
April 6, Fineko/abc.az. CFTC data shows a sharp turnaround in the Chicago wheat market: the number of bets on growth exceeded the volume of bets on decline by 8,641 lots, ending the "bearish" period since June 2022. Long positions reached 117,375 lots, the most in more than six years, while short positions decreased to 108,734 lots.
ABC.AZ informs that the main catalyst was the war, which blocked the movement of tankers with fuel and fertilizers through the Strait of Hormuz, which caused global concerns about food safety. The increase in prices is also supported by the drought in the Great Plains of the U.S. and the change in farmers' planting plans in Australia.
On Monday, quotes temporarily declined due to the forecast of rains in the arid regions of the U.S. and profit-taking by speculators.
