US wheat futures fall

September 15, 2013

US wheat
US wheat

US wheat futures closed 1.9 percent lower on Friday, with traders saying prices needed to come down further to make US wheat competitive on the export market. For the week, the benchmark Chicago Board of Trade December soft red winter wheat contract fell 1.1 percent. Some forecasts for rain in the US Plains that are expected to boost soil moisture ahead of winter wheat planting added further pressure to the market.

Ukraine’s grain exports, including 2.6 million tonnes of wheat, were up 11 percent compared to a year ago. Goldman Sachs left its three-, six- and 12-month wheat price forecasts unchanged at $6.50 a bushel. Courtesy Reuters

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