Markets
Print edition: 2019-11-16
US wheat dips on ample supply
US wheat futures slipped on Thursday under pressure from large global supplies, analysts said.
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US wheat futures slipped on Thursday under pressure from large global supplies, analysts said.
The market continued to pull back from a price rally on Tuesday that was supported by worries about low temperatures hurting recently planted US wheat.
US wheat futures remained capped by poor export demand and signs of renewed competition from Russian wheat after a relatively slow start to Russia's export season, analysts said.
Egypt's state grain buyer said it bought 465,000 tonnes of Russian and Ukrainian wheat in an international purchase tender for shipment Jan. 5-15. No US wheat was offered in the tender.
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