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CHICAGO, Dec 30 (Reuters) – Chicago Board of Trade wheat
futures firmed on Friday, amid technical trading and continued
concerns over winter storm damage to U.S. wheat crops, traders
said.
NOTE: U.S. grain markets will be closed on Monday for the
New Year holiday, reopening at 8:30 a.m. CST (1430 GMT) on
Tuesday.
* Over the year, CBOT’s most-active wheat
finished up nearly 2.8% over what the contract settled at on
Dec. 31, 2021.
* Wheat futures jumped to an all-time high in March after
Russia’s invasion of Ukraine curbed global supplies.
* The resumption of sea exports from Ukraine since August
has eased price pressures, though extreme cold weather in the
United States in the past week rekindled concerns about supplies
in major wheat exporting countries.
* The benchmark CBOT March soft red winter wheat contract
* K.C. March hard red winter wheat futures
traded up 20-3/4 cents at $8.87-1/4 a bushel, while MGEX March
spring wheat
* The U.S. Department of Agriculture reported export sales
of U.S. wheat in the week ended Dec. 22 at 511,100 tonnes (old
and new crop years combined), above a range of trade
expectations for 200,000 to 475,000 tonnes.
* Sovecon, a leading Black Sea agricultural markets research
firm focused on Russia and Ukraine, has increased its 2022/23
Russian wheat export forecast by 0.2 million tonnes to 44.1
million tonnes, it said on Friday.
* The Buenos Aires grains exchange on Thursday estimated
Argentina’s 2022/23 wheat crop at 12.4 million tonnes and said
its estimate could be lowered again in coming weeks as yields
come in lower than expected.
(Reporting by P.J. Huffstutter; editing by Grant McCool)
((pj.huffstutter@thomsonreuters.com; 313-484-5275 (w); On
Twitter @pjhuffstutter; Reuters Messaging:
pj.huffstutter.reuters.com@thomsonreuters.net))
Keywords: USA WHEAT/CBOT
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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