Markets

CBOT Trends - Wheat down 3-4 cents; corn down 1-3 cents; soy steady-up 2 cts

Strength in U.S. dollar, which makes U.S. wheat relatively more expensive to overseas buyers, adds pressure. C

Published February 3, 2020 Updated February 3, 2020 02:29pm

2 min

Comments

By Reuters

Add BRecorder as a trusted
source on Google

Strength in U.S. dollar, which makes U.S. wheat relatively more expensive to overseas buyers, adds pressure.
Corn futures weighed down by ample supplies but most-active contract found support at Friday's low during overnight trading.
Soybean futures steadying after nine straight days of declines pushed the most-active contract to a two-month low on a continuous basis.

WHEAT - Down 3 cents to 4 cents per bushel

Strength in U.S. dollar, which makes U.S. wheat relatively more expensive to overseas buyers, adds pressure.

Most-active Chicago Board of Trade soft red winter wheat contract, which has fallen for six straight sessions, hit its lowest since Jan. 8 during the overnight trading session.

CBOT March soft red winter wheat futures contract found support at the low end of its 20-day Bollinger range after briefly dipping below its 50-day moving average overnight.

CBOT March soft red winter wheat last traded down 3-1/2 cents at $5.50-1/4 per bushel. K.C. March hard red winter wheat was last down 3-1/4 cents at $4.62-1/4 a bushel and MGEX March spring wheat was last down 1-1/2 cents at $5.32-1/4 a bushel.

CORN - Down 1 cents to 3 cents per bushel

Corn futures weighed down by ample supplies but most-active contract found support at Friday's low during overnight trading.

CBOT March corn futures contract seen stuck in technical range between the low end of its 20-day Bollinger range and its 50-day moving average.

CBOT March corn last traded down 2 cents at $3.79-1/4 per bushel.

SOYBEANS - Steady to up 2 cents per bushel

Soybean futures steadying after nine straight days of declines pushed the most-active contract to a two-month low on a continuous basis.

Some-bargain buying expected, but concerns about spread of coronavirus, Chinese demand to limit any gains.

Private exporters reported the sale of 130,000 tonnes of soybeans for delivery to Egypt during the 2019/20 marketing year.

CBOT March soybeans last traded 3/4 cent higher at $8.73-1/4 per bushel.

Read Comments