Wheat firms as dry weather threatens North American plantings
- Brazil's second-crop corn planting could see yields trimmed by an estimated 3.6% this year, Agroconsult said.
CANBERRA: US wheat futures edged higher on Thursday as dry weather in several North American growing regions raised concerns of an impact to planting timeline.
FUNDAMENTALS
The most-active wheat futures on the Chicago Board of Trade were up 0.1% at $6.17 a bushel by 0241 GMT, having closed up 0.1% on Wednesday.
Soybean futures were down 0.2% to $14.06-1/4 a bushel, having closed down 0.7% on Wednesday.
Corn futures fell 0.1% to $5.59-3/4 a bushel, having gained 1.1% in the previous session.
Spring wheat planting across the US Upper Great plains and Canadian prairie has been hampered by extreme dryness that could negatively affect yields.
Brazil looks to export 16.3 million tonnes of soybeans in April, up from 14.2 million acres a year ago, as well as 22,000 tonnes of corn, according to Brazilian grain export association ANEC.
- Brazil's second-crop corn planting could see yields trimmed by an estimated 3.6% this year, Agroconsult said.
Market awaits corn USDA to adjust grain usage in its monthly supply and demand assessment.
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