CBOT wheat ends higher as US currency weakens
- CBOT September soft red winter wheat settled up 5-3/4 cents at $5.27-3/4 per bushel.
- The USDA said 74% of US winter wheat has been harvested, up from 68% last week. Analysts had expected 79%.
CHICAGO: Chicago Board of Trade wheat futures closed higher on Tuesday as the US dollar pulled back, making the grain more competitive on the world market, traders said.
CBOT September soft red winter wheat settled up 5-3/4 cents at $5.27-3/4 per bushel.
K.C. September hard red winter wheat ended 7-1/2 cents at $4.42-1/2 a bushel while MGEX September spring wheat remained unchanged at $5.06-1/2.
The USDA said 74% of US winter wheat has been harvested, up from 68% last week. Analysts had expected 79%.
The USDA rated the spring wheat crop 68% good to excellent, unchanged from last week and in line with analysts' expectations.
Egypt's state grains buyer, the General Authority for Supply Commodities (GASC), on Tuesday received a lowest offer of $208.98 a tonne for 60,000 tonnes of Ukrainian wheat in an international purchase tender for the grain, traders said.
Reuters
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