Wheat Closes Mixed on Tuesday
Wheat prices showed mixed movement on Tuesday. Chicago SRW futures rose 1-2 cents, while KC HRW futures posted fractional losses. MPLS spring wheat declined 3-4 cents. Western Plains have limited snow cover and little precipitation is forecasted. Japan issued a wheat import tender, seeking 132,888 MT from the US, Canada, and Australia.
Wheat posted mixed action on Tuesday, hard red contracts the weakest and soft market the strongest. Chicago SRW futures were up 1 to 2 cents on the session. KC HRW settled with fractional losses on Tuesday. MPLS spring wheat futures were down 3 to 4 cents in most front months at the close
Portions of the Western Plains have very little snow cover, with little precip in the forecast and a cold front coming in this weekend.
Japan has issued a tender for 132,888 MT of wheat for import from the US, Canada, and Australia, with 48,308 MT US specific.
Mar 25 CBOT Wheat closed at $5.46 1/4, up 1 1/4 cents,
May 25 CBOT Wheat closed at $5.58 1/4, up 1 1/2 cents,
Mar 25 KCBT Wheat closed at $5.60 3/4, down 1/4 cent,
May 25 KCBT Wheat closed at $5.70 1/4, down 1/4 cent,
Mar 25 MGEX Wheat closed at $5.89 1/2, down 4 cents,
May 25 MGEX Wheat closed at $5.98 1/4, down 3 cents.
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Source : Nasdaq.com
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