Thursday, 12 January 2012 00:32
CHICAGO: Chicago Board of Trade wheat futures were close to unchanged on Wednesday as investors took positions ahead of the US Agriculture Department's monthly supply and demand reports and winter wheat seedings estimate, traders said.
* The Thursday report was expected to show that farmers seeded 40.933 million acres of winter wheat, up from 40.646 million a year ago, according to a Reuters survey.
* US wheat ending stocks were seen at 842 million bushels and stocks as of Dec. 1, 2011 were expected to be 1.695 billion bushels. * South Korea's largest feedmaker, Nonghyup Feed (NOFI), bought 118,000 tonnes of corn, 55,000 tonnes of feed wheat and 55,000 tonnes of soybean meal for April and May delivery.
* Analysts were expecting USDA's export sales report to show wheat export sales in a range from 250,000 to 400,000 in latest reporting week, up from 168,200 last week.
Copyright Reuters, 2012 ...