Wheat futures on the Chicago Board of Trade were lower early on Thursday, losing ground to Kansas City and Minneapolis wheat after the USDA adjusted its wheat ending stocks by class, traders said.
The US Department of Agriculture in its monthly supply/demand reports raised its estimate of US hard red winter wheat exports by 10 million bushels, and lowered HRW ending stocks by the same amount.
As of 11:10 am CST (1710 GMT), CBOT December wheat was down 4 cents at $3.11 per bushel, with deferreds down 4 to 4-1/2 cents.
CBOT December rallied briefly early in the session, with buy-stops hit around $3.15-1/2, traders said. But prices turned lower when follow-through buying failed to emerge.
Comments
Comments are closed.