By Rudy Ruitenberg
Jan. 20 (Bloomberg) -- Wheat futures fell for a fourth day and to a two-month low after the weekly quantity of U.S. grain inspected for export fell to the lowest since June.
Wheat for March delivery fell as much as 1.4 percent to $4.9325 a bushel in electronic trading on the Chicago Board of Trade, and was at $4.9375 as of 11:22 a.m. Paris time. That’s the lowest price since Nov. 2.
U.S. Department of Agriculture officials inspected 9.4 million bushels of wheat for export in the week ended Jan. 14, down 24 percent from a week earlier and the lowest level since the year that started June 1.
“The weekly inspection number turned out to be at a low level, 260,000 tons, below expectations,” French farm adviser Offre et Demande Agricole said in a report today.
Milling wheat for March delivery traded on Liffe in Paris slipped 0.2 percent to 125.50 euros ($177.97) a metric ton.
Corn for March delivery traded in Chicago slipped less than 0.1 percent to $3.69 a bushel while soybean futures gained 0.3 percent to $9.6625 a bushel.
To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net
Posts
No comments:
Post a Comment