Midweek Bounce Back for Wheat Futures
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The wheat market rallied back on Wednesday with double digit gains of as much as 3%. KC wheat, which had been pushed down the hardest to start the week, was up by 13 ½ to 17 ¼ cents. CBT SRW futures were 9 ¾ to 10 ¾ cents higher at the close. Spring wheat futures in Minneapolis were 10 ¼ to 12 cents higher on the day.
Wire sources had Saudi Arabia’s GFSA booking 795k MT of wheat via a weekend tender. Japan is set to buy 113.5k MT of wheat in a regular MOA tender from U.S., Canada, and Australia. Results are expected tonight or early Thursday.
Source Link: https://www.nasdaq.com/articles/midweek-bounce-back-for-wheat-futures
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