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Latin America
Wheat Market Recap Report
Wed 06 Feb 2013 14:27:30 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
March Wheat finished up 2 at 759 1/2, 4 1/2 off the high and 13 up from the low. May Wheat closed up 3 at 767 1/4. This was 13 up from the low and 4 1/4 off the high.
KC and Chicago wheat traded lower early in the session but found some buying support late in the day on rumors a fair amount export business may have been done with non-traditional customers. Early pressure was linked to technical sell pressure on the heels of a sharply higher US Dollar. Export sales will be released tomorrow so the trade is also looking ahead to possible signs that export demand is showing signs of improvement. Syria issued a 100,000 soft wheat tender overnight and the Jordan and Iraq tenders are still pending. Weather pattern show limited activity in the western plains this week but some 6-10 and 8-14 day outlooks show normal to above normal precipitation in the region, although confidence in these forecasts is rather low at this point.
March Oats closed up 11 1/2 at 377 3/4. This was 14 3/4 up from the low and 1 off the high.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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