Food Industry
Industry: Email Alert RSS FeedWheat Watch: CBOT Wheat Called Steady To Mixed.
Resource News International, November, 2004
Winnipeg, MB, Nov 03, 2004 (Resource News International via COMTEX)
Chicago Board of Trade wheat futures are called steady to mixed at Wednesday's open. Slow US exports and large world wheat production should continue to put some downward pressure on the market. However, short-covering after the recent technical weakness could provide some support.
CBOT wheat futures were steady to 1 cent on either side of unchanged in overnight electronic trade.
Export news was quiet overnight. However, Egypt, Japan and Taiwan are all expected to issue tenders this week.
CBOT Dec wheat is looking bearish from a technical standpoint. A challenge of the contract low of US$2.97 is possible in the near term. Resistance is seen at US$3.09 and then at...
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