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Markets

CBOT wheat futures rise on European cold snap

  • CBOT May soft red winter wheat settled 12-1/2 cents higher at $6.28-3/4 per bushel.
Published April 9, 2021

CHICAGO: Chicago Board of Trade wheat futures gained on Thursday, supported by concerns about frigid weather across Europe and the Black Sea region that threatens crops, analysts said.

  • CBOT May soft red winter wheat settled 12-1/2 cents higher at $6.28-3/4 per bushel.

  • K.C. May hard red winter wheat gained 13-1/4 cents to $5.76-1/2 per bushel, while MGEX May spring wheat added 15-3/4 cents to settle at $6.40-1/4 per bushel.

  • A cold spell this week in France, the European Union's top wheat grower, brought record temperature lows for April, tempering recent optimism about harvest prospects.

  • Exports of 82,000 tonnes of old-crop wheat were reported by the US Department of Agriculture for the week ending April 1, 67% lower than the week prior, a marketing year low.

  • Tunisia's state grains agency has purchased about 75,000 tonnes of soft wheat in an international tender which closed on Thursday, European traders said.

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