CBOT Updates: wheat closes sharply down
Copyright 2010. Commodity Online India Limited
Aug. 17 -- U.S. wheat futures closed sharply lower Monday on expectations that parched areas of Russia will receive rain ahead of planting. Meteorologists forecast northern Russia a major producer will see widespread rain late this week after light showers fell during the weekend. However central and southern areas of the Former Soviet Union wheat belt will miss out they said. Prices pulled back after extreme dryness and a Russian ban on grain exports shoved prices near two year highs earlier this month. Farmers need rain to improve prospects for the upcoming winter wheat crop which will be sown next month and harvested next year. Commodity funds sold a moderate 11 000 contracts at CBOT. CBOT December wheat settled down 38 cents at $6.96 1 4 a bushel KCBT December wheat fell 35 cents to $7.03 and MGE December wheat lost 31 1 2 cents to $6.96 1 2. Courtesy: CBE GroupPublished by HT Syndication with permission from Commodity Online.
17.08.2010, 2661 просмотр.
