Bad weather boosts US wheat – HGCA

CBOT and KCBT wheat futures prices rose across the board by close on Thursday compared with the previuous week, trading between $1 to $2.40 higher in a market largely focused on the adverse weather.

Mondays US Department of Agriculture crop report rated 20% of the winter wheat crop – which is in the final stages of the growing season – “poor to very poor”, and 45% as “good to excellent”, compared with 14% and 62% of a year ago.

CBOT maize prices closed steady as maize sowings continued on schedule.

Plantings are 5% complete, but are likely to come up against weather-related delays.

TURKEY sold 245,000 tonnes of wheat, Egypt bought 195,000t of US, Australian and Canadian wheat while Algeria, Tunisia, Jordan and Syria announced buying tenders.