IKAR in Mass and Industry Media

CBOT wheat futures higher

Reuters

Wheat futures on the Chicago Board of Trade closed higher Wednesday in range bound trade, lifted by spillover strength from soybeans and corn, traders said. Wet weather has slowed the start of the winter wheat harvest in the far southern US Plains, adding support. CBOT July wheat settled up 2 cents at $4.66 per bushel, staying inside the previous day's trading range. K.C. July hard red winter wheat settled up 4-1/2 cents at $4.51 and MGEX July spring wheat finished unchanged at $5.22.

Russia's agriculture ministry raised its forecast of the country's 2016 grain crop to at least 106 million tonnes, from 104 million previously. IKAR, a Moscow-based consulting firm, raised its estimate of the country's grain harvest to 107 million tonnes, from 105 million previously. Indian flour mills have signed deals to import about 500,000 tonnes of Australian and French wheat this year for shipment between July and September as drought reduces domestic supplies, trade sources said.

31.05.16

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