Loading…
US wheat futures fell to contract lows on Tuesday for a fifth straight session, driven by technical selling after prices broke below a two-month low. The decline occurred despite a USDA-confirmed sale of 100,000 tonnes of hard red winter wheat to Iraq and a crop condition report showing only 52% of the US winter wheat crop in good to excellent condition.
Technical selling pressure pushed wheat futures lower even with supportive export and crop-condition news, so near-term wheat prices remain weak. Cheaper wheat lowers the cost of wheat-based feed ingredients.
grainews.caGFM Network NewsOct 31, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
