Content ID

314827

CBOT wheat closes mixed, spring wheat gains on drought

CHICAGO, June 10 (Reuters) - U.S. wheat futures were mixed on Thursday, with Chicago Board of Trade soft red winter wheat contracts closing mostly lower, while Minneapolis spring wheat futures gained on concerns about drought-reduced production. * The benchmark CBOT July soft red winter wheat futures contract ended 1-1/2 cents higher at $6.83-3/4 a bushel. Deferred contracts were nearly all lower. * K.C. July hard red winter wheat was 4-1/2 cents higher at $6.40-1/4, and MGEX spring wheat for July delivery was 11-1/4 cents higher at $7.75-1/2 a bushel. * Hot, dry conditions in the northern Plains have boosted spring wheat prices. About two-thirds of top producer North Dakota are in extreme to exceptional drought, according to climatologists. * The U.S. Department of Agriculture (USDA) made only modest adjustments to its wheat production and stocks estimates in a monthly report on Thursday. * In a separate report, the USDA said exporters sold a net 325,900 tonnes of wheat for the 2021/2022 marketing year, which began June 1, in line with trade forecasts. (Reporting by Karl Plume; Editing by Peter Cooney)

© Copyright Thomson Reuters 2021. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Tip of the Day

Batteries are charged continually

Implement solar charger It was frustrating to have to charge or boost the batteries so often on my seed tender, self-propelled belt conveyor, and other pieces of... read more

Talk in Marketing