Content ID

335037

CBOT wheat futures rise after dollar turns lower

CHICAGO, Oct 21 (Reuters) - Chicago Board of Trade wheat futures rose on Friday, with a falling dollar sparking hopes for a pick up in export demand and signaling a risk-on day for speculative traders ahead of the weekend. * MGEX spring wheat also was firm but K.C. hard red winter wheat futures ended in negative territory after hitting technical resistance. * The benchmark Chicago Board of Trade soft red winter wheat futures contract threatened to hit a fresh four-week low overnight but turned higher when the dollar weakened shortly after the start of the day trading session. * CBOT December soft red winter wheat settled up 1-1/2 cents at $8.50-3/4 a bushel. For the week, the contract dropped 1.0%. * K.C. December hard red winter wheat ended 3 cents lower at $9.46-3/4 a bushel and MGEX December spring wheat rose 1-1/2 cents to $9.64 a bushel. * The December K.C. HRW contract faced resistance at its 30-day moving average. * Spring wheat was up 1.0% this week and hard red winter wheat was down 0.6%. * Turkey's state grain board TMO has provisionally purchased about 470,000 tonnes of wheat in a large international tender. Traders suspected the Black Sea region, especially Russia, will be a main supply origin. (Reporting by Mark Weinraub; Editing by Sandra Maler)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Talk in Marketing

Most Recent Poll

Will you have enough on-farm storage for harvest?

I just want to see the responses
49% (19 votes)
Yes
36% (14 votes)
Maybe, depending on yields
8% (3 votes)
No, it’s going to be a bin-buster
5% (2 votes)
No, I am looking at new bins or temporary storage
3% (1 vote)
Total votes: 39
Thank you for voting.