Chicago Board of Trade (CBOT) wheat futures fell on Wednesday, pressured by technical selling and profit-taking after hitting a three-month high the previous session. CBOT July soft red winter wheat settled 6 cents lower at $4.72-3/4 per bushel. The contract failed to breach chart resistance at its 100-day moving average.
K.C. July hard red winter wheat ended down 3-3/4 cents at $4.32-1/4 a bushel, while MGEX July spring wheat ended up 3/4 cent at $5.43-3/4 a bushel. Heavy rain across the southern Plains wheat belt has raised concerns that some of the developing hard red winter wheat crop may have been damaged or destroyed.
Comments
Comments are closed.