CBOT wheat firms again on worse than expected winter wheat conditions
Wheat futures at the Chicago Board of Trade rose for a second consecutive day, influenced by weaker-than-expected winter wheat conditions reported by the USDA. CBOT December soft red winter wheat ended up 2¾ cents at $5.73¼ per bushel, while KC December hard red winter wheat rose 1½ cents to $5.75¾, and Minneapolis December spring wheat gained 2½ cents, closing at $6.09 per bushel. Additionally, Ukraine’s new minimum export price system for grains and oilseeds is set to launch in early December.
CHICAGO, Oct 30 (Reuters) -Chicago Board of Trade wheat futures gained strength for a second day on poorer-than-predicted winter wheat condition data released by the U.S. Department of Agriculture in its crop progress and condition report this week, according to analysts.
- CBOT December soft red winter wheat WZ24 ended up 2-3/4 cents at $5.73-1/4 per bushel.
- K.C. December hard red winter wheat KWZ24 settled up 1-1/2 cents a bushel at $5.75-3/4 and Minneapolis December spring wheat MWEZ24 rose 2-1/2 cents to finish at $6.09 per bushel.
- Ahead of the USDA’s weekly export sales report on Thursday, analysts expected the government to report export sales of wheat in the week ended Oct. 24 at 300,000-600,000 tons. USDA/EST
- Ukraine’s new system of minimum export prices for the country’s key grain and oilseed shipments is likely to be operational at the beginning of December, Ukrainian agriculture minister Vitaliy Koval said on Wednesday.
