Wheat in the US recovers thanks to cuts in world supply and a weakening of the dollar

Published by: MRT

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Wheat in the US recovers thanks to cuts in world supply and a weakening of the dollar

Por Christopher Walljasper

CHICAGO, US, Sep 14 (Reuters) – Chicago wheat futures rose Tuesday on concerns about global supply when demand is strong, while a weak US dollar favored US exports.

* Corn rose after the United States Department of Agriculture (USDA) reported a weekly decline in crop conditions.

* Soybeans were trading stable, supported by export expectations and despite the pressure of the harvest.

* The most active wheat contract on the Chicago Stock Exchange (CBOT) was up 12.75 cents to $ 6.9975 a bushel at 1604 GMT, its first gain in six sessions.

* Corn was up 6 cents at $ 5.1925 a bushel and soybeans were up 3 cents at $ 12.8775 a bushel.

* France on Tuesday cut its estimate for soft wheat production by more than 600,000 tonnes to 36.06 million tonnes, due to humid summer weather.

* Drought conditions in Canada hurt the wheat crop even more than it seemed weeks ago, according to a Statistics Canada report that estimated spring wheat production at 15.3 million tonnes, 41% less than in the past. last year.

* The situation coincides with a time of strong global demand for wheat, which has included several important international tenders in the last week.

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