CBOT wheat futures ended lower on Thursday after trading in positive territory for much of the session on support from a surprise export sale to China, traders said. The US Agriculture Department on Thursday reported a snap sale of 130,000 tonnes of US white wheat to China for shipment in the 2019/20 season.
It was China's first purchase of the variety since March and its largest one-time purchase of US wheat since December 2016. USDA also said that weekly export sales of wheat totalled 328,500 tonnes, in line with forecasts for 200,000 tonnes to 600,000 tonnes. The benchmark Chicago Board of Trade December soft red winter wheat futures contract rose above its five-day moving average during Thursday's session but failed to hold support above that level.
Comments
Comments are closed.