WHEAT futures continued to slide in Chicago amid concern US supplies are not competitive, after the dollar climbed against the euro and other currencies in recent weeks.
A tender by Egypt’s state grain buyer yesterday drew offers for wheat from France, Russia, Ukraine and Romania, while the US was absent.
Wheat for March fell 0.3 percent to $5.3925 a bushel (R2 187.51 a ton) on the Chicago Board of Trade by 8.15am.
“Despite sustained demand at the global level, the prices of US wheat are still losing attractiveness,” French farm adviser Agritel wrote. – Bloomberg