Wheat futures on the Chicago Board of Trade ended 4 percent lower and spot May hit a 5-month low early on Wednesday on ideas of a large global harvest starting in the Northern Hemisphere in less than two months, traders said.
Funds sold 3,000 lots of CBOT wheat. CBOT SRW wheat was down 29 to 34-3/4 cents per bushel, with May down 34 at $8.17-3/4 per bushel. KCBT HRW wheat was down 28 to 39-1/2 with May down 39 at $8.72 and MGE spring wheat was down 26-1/4 to 35 cents, with May down 35 at $11.45.
In Paris, milling wheat futures were down 5.00 to up 1.00 euro per tonne. A record harvest and bulging government stocks will rule out wheat imports by India this year, Agriculture Minister Sharad Pawar said. Winter wheat planting got off to a strong start in Western Australia this week after good rain, but eastern areas need moisture.
Comments
Comments are closed.