May wheat was down 2-1/2 cents at $9.22 per bushel, new-crop July down 3 at $9.36. Choppy; pressured by setback in soyabeans and crude oil. Opened higher on tight supplies and export restrictions recently imposed by several global wheat suppliers. Talk of a late April frost threat in the southern US Plains adds support.
USDA reported US wheat export sales for last week 308,400 tonnes (129,200 for 2007/08), below trade estimates. French analyst trims 2008 EU wheat crop forecast. Turkey wheat output to rise 10 percent, rice supplies adequate.
Japan bought 88,000 tonnes Canadian Australian and US wheat at weekly tender. Jordan bought 50,000 tonnes of hard wheat in a tender for 100,000 tonnes, thought to be from Europe or Black Sea.
Comments
Comments are closed.