
CBOT wheat futures rose to their highest in over two weeks on Tuesday as a weaker dollar and signs of export demand supported U.S. grain. December SRW settled up 9 cents at $5.34 per bushel, KC HRW rose to $5.23-1/2 and Minneapolis spring wheat gained to $5.76-1/2.
Asian buyers were reported increasing U.S. wheat imports and France raised its soft wheat estimate to 33.3 million tonnes.
A weaker dollar and firmer export demand make U.S. wheat more competitive, supporting futures, while a larger French crop limits upside in Europe. Commodity funds' net short position leaves room for short-covering rallies.
Not 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.