USA: The price of wheat shot up by almost 4 percent

You could see prices rising to the right on Tuesday's trading day on the crop markets. In Chicago, wheat went up by 3.8 percent, corn by 0.6 percent, soybeans by 0.5 percent, and canola by 1.8 percent less than on Friday. Overseas markets were closed on Monday. In Europe, the course of mill wheat, corn and fodder wheat also closed in surplus, but rapeseed became cheaper. Chicago wheat futures rose nearly 4% on Tuesday, rebounding from intraday lows as the dollar weakened and the approach of the spring growing season triggered the closing of short positions in the Northern Hemisphere speculating on lower prices, sparking a rally. The price of corn and soybeans also rose, and the exchange rates returned from close to the lows of several years. Abundant global grain supplies and weak demand for U.S. inventories pressured corn, wheat and soybean futures for months, prompting speculators to build large net short positions in all three markets. But attention is beginning to shift to the ...