CBOT wheat ends higher on weather concerns
- The most-active CBOT December soft red winter wheat contract ended 2-3/4 cents higher at $5.96-3/4 a bushel.
- K.C. December hard red winter wheat closed 4 cents higher at $5.35-1/4 a bushel while MGEX December spring wheat gained 1-3/4 cents to settle at $5.46.
CHICAGO: Chicago Board of Trade wheat futures ended higher on Wednesday after mixed trading, as dryness in the US Great Plains and the Black Sea Region threatened recently planted crops, analysts said.
The most-active CBOT December soft red winter wheat contract ended 2-3/4 cents higher at $5.96-3/4 a bushel.
K.C. December hard red winter wheat closed 4 cents higher at $5.35-1/4 a bushel while MGEX December spring wheat gained 1-3/4 cents to settle at $5.46.
Farm office FranceAgriMer raised its forecast for French soft wheat exports outside the European Union in the 2020/21 season to 6.7 million tonnes, up 100,000 tonnes from last month, but down 50% on the record volume of 13.46 million tonnes exported last season.
Brazilian wheat millers association Abitrigo opposes the approval of genetically modified wheat products for sale in Brazil, saying it will make imports of the cereal more costly and impact prices on the domestic market.
Algeria's state grains agency, OAIC, purchased an estimated 600,000 tonnes of optional-origin milling wheat in an international tender late on Tuesday, European traders said in assessments on Wednesday.
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