Wheat futures were lower overnight as investors widely look past yesterday’s World Agricultural Supply and Demand Estimates (WASDE) report and instead continue to focus on global weather.
Corn and beans were little changed.
Rain is expected to build across much of the western hard-red winter Wheat Belt today and persist through Friday, forecaster Maxar said in a report. That will improve moisture in some areas, especially central and western growing areas in the region.
Precipitation also fell in the so-called Black Sea growing region over the weekend, and rains likely will continue to improve crop prospects in western Ukraine and Belarus, though dry weather is expected in southeastern Ukraine, Maxar said.
Read Also : South Korean Companies Want To Move Units From China To India; Hyundai Steel, Posco In Talks With Indian Government, https://greenstories.co.in/south-korean-companies/
In Canada, rain will return to southern Alberta, Saskatchewan and Manitoba today and tomorrow, the forecaster said. Still, showers are expected to be “limited,” which will speed fieldwork. Cold weather in the region likely will slow germination.
The WASDE report was a bit of a non-event for wheat as old-crop stockpiles were just below the average trade guess and new-crop inventories topped expectations, Zaner Ag Hedge said.
Read Also : Self-Confessed ‘Jungle Boy’ Has 1,400 House Plants That Take Him Hours To Water Everyday, https://greenstories.co.in/jungle-boy/
“This wheat market continues to be buffeted by the overall sentiment in the corn market, though cash trade also remains relatively slow,” said Mike Pearson, the vice president for market engagement at Zaner.
Wheat futures for July delivery fell 4 1/4¢ to $5.10 1/4 a bushel overnight on the Chicago Board of Trade, and Kansas City futures lost 4 3/4¢ to $4.64 ½ a bushel.
Corn futures for May delivery fell 1¢ to $3.19 ¾ a bushel.
Soybean futures rose 1 1/2¢ to $8.50 a bushel overnight, while soymeal gained 10¢ to $292.20 a short ton and soy oil added 0.11¢ to 26.37¢ a pound.
Tags: #agriculture, #bakery, #barley, #bread, #farm, #farming, #flour, #follow, #foodie, #getgreengetgrowing, #greenstories, #harina, #harvest, #homemade, #lenguajedelamor, #likes, #nature, #p, #photography, #receta, #recipe, #rye, #trigo, #venezuela, #wheat, #gngagritech, food
