Wheat steadies after selloff triggered by USDA raising production estimates
US wheat futures stabilized after a nearly 1% decline as USDA raised global production and ending stock estimates, signaling ample supply. Soybean prices rose for a second day on confirmed US sales to China, while corn edged up due to strong export demand, reflecting sustained international grain market activity.
CANBERRA: US wheat futures steadied on Thursday, having fallen nearly 1% in the previous session after the US Department of Agriculture (USDA) raised its estimates for global production and end-of-season stocks, cementing expectations for ample supply.
Soybean futures gained for a second day after the USDA confirmed more sales of US beans to China.
Corn edged higher amid strong US export demand.
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Source : Business Recorder
