CHICAGO: Wheat futures on the Chicago Board of Trade fell on Thursday, following broad declines in commodities including crude oil as the dollar strengthened, making US goods less attractive on the global market, analysts said.
CBOT December wheat settled down 3-1/4 cents at $4.17 per bushel.
K.C. December hard red winter wheat ended down 2-1/4 cents at $4.23 a bushel while MGEX December spring wheat rose 1/2 cent at $5.31-1/4, supported by concerns about the quality of the Canadian spring wheat crop.
Egypt's state grain buyer, the General Authority for Supply Commodities, said it bought 120,000 tonnes of Russian wheat in a tender.
The US Department of Agriculture reported export sales of US wheat in the latest week at 513,800 tonnes, toward the high end of trade expectations for 350,000 to 550,000 tonnes.
The USDA through its daily reporting system said private exporters sold 73,000 tonnes of US hard red spring wheat and 41,000 tonnes of US soft white wheat to unknown destinations for 2016/17 delivery.
Indian mills bought 100,000 tonnes of new-crop Australian wheat in recent deals for January shipment, traders said.
Comments
Comments are closed for this article.