Agri­cul­tural fu­tures

The Star Early Edition - - MARKETS -

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

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