Food Industry
Industry: Email Alert RSS FeedWheat Watch: China News Seen Boosting CBOT Wheat.
Resource News International, December, 2003
WINNIPEG, MB, Dec 31, 2003 (Resource News International via COMTEX)
Wheat futures at the Chicago Board of Trade (CBOT) are expected to start Wednesday's session on a firmer note with gains of 1 US cent per bushel anticipated. The drop in the value of the US currency in overnight trade was seen providing a strong backdrop to the market as a weak dollar was seen encouraging fresh export demand. Additional support should stem from news that China has agreed to send a wheat- buying delegation to the US. Ongoing concern about dry weather in the western portion of the US Great Plains hard red winter wheat growing region should further underpin prices.
CBOT grain and soybean markets will close at noon CT and will remain closed Thursday for the New Year's Day...
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