Thursday, 24 January 2013 03:36
CHICAGO: Chicago Board of Trade wheat futures fell for the second day in a row on Wednesday, pressured by technical selling and poor export demand, traders said.
* Prices for the benchmark CBOT March soft red winter wheat contract failed to hold support above the contract's 30-day moving average, which it briefly eclipsed early on Wednesday.
* Hard red winter wheat futures at the Kansas City Board of Trade were mostly flat to up slightly due to worries about crop development.
* Dry weather in the US Plains continues to cause concern about harm to the already drought-stricken hard red winter wheat crop, said Joel Widenor, meteorologist for Commodity Weather Group.
* Bangladesh's state grains buyer received the lowest bid at $322 per tonne from a Korea-based company for its tender to buy 50,000 tonnes of wheat, officials from the state agency said on Wednesday.
* Japan's Ministry of Agriculture has bought 17,800 tonnes of feed wheat in a tender. The ministry has said it seeks to buy 120,000 tonnes of feed wheat.
* The Korea Feed Association (KFA) bought 55,000 tonnes of feed wheat likely to be sourced from India in a snap, European traders said.
Copyright Reuters, 2013