Rabobank sees CBOT wheat prices rising by 10-15% in a year.

Wheat prices on the Chicago Board of Trade are likely to rise 10-15% to $5 per bushel in a year. The area under wheat has reduced in the US, leading to lower growth in stocks, while in the European Union, yields are not expected to reach the average of recent years due to unfavourable weather. On a global scale, the stocks-to-demand ratio for wheat has reached 33%, which Rabobank said was too high, adding that a high ratio would dampen prospects of a significant recovery in global wheat prices in the coming season.