CBOT wheat closes firm on bargain buying boost

06 Dec, 2012

 

* Prices for wheat traded lower for much of the day because of a firm dollar and weakness in the corn market.

 

* The US Agriculture Department said on Thursday morning that weekly export sales of wheat were 353,100 tonnes, near the low end of forecasts for 350,000 to 500,000 tonnes.

 

* US winter wheat farmers could abandon more than a quarter of the new wheat crop due to devastating weather, though decisions on abandonment will not be made until spring, experts said this week.

 

* Ukraine's grain exports are likely to fall to below 2 million tonnes this month from more than 3 million in November due to a halt in wheat shipments and to holidays, Agriculture Minister Mykola Prysyazhnyuk said on Thursday.

 

Copyright Reuters, 2012

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