IKAR in Mass and Industry Media

Wheats Closed Near Their Lows On Double Digit Drop

barchart.com

Front month wheat prices ended with double digit losses across the three domestic classes. The Russian Central Bank called an emergency meeting yesterday, and elected to raise interest rates to combat the sliding ruble.

Wheats Closed Near Their Lows On Double Digit Drop

At the close, CBT SRW futures were 2.5% to 2.8% lower with 17 to 18 1/4 cent losses. KC HRW futures were down by 13 to 16 cents with 1.8% to 2% losses. Spring wheat quotes in Minneapolis settled 1.6% to 2.3% lower on 13 to 19 cent losses. That was a new low for the move for Sep HRS contracts, now working at the lowest prices since May.

Russia’s IKAR estimates wheat output there at 89.5 MMT, from 88 MMT previously – citing increased yield.

Sep 23 CBOT Wheat closed at $5.98 1/2, down 17 1/2 cents,
Dec 23 CBOT Wheat closed at $6.23 3/4, down 17 3/4 cents,
Cash SRW Wheat was $5.31 3/4, down 17 5/8 cents,
Sep 23 KCBT Wheat closed at $7.37 1/2, down 13 cents,
Cash HRW Wheat was $6.75 1/8, down 13 cents,
Sep 23 MGEX Wheat closed at $7.86 1/2, down 19 cents,

https://barchart.com/story/news/19408060/wheats-closed-near-their-lows-on-double-digit-drop

16.08.23

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