Wheat futures slump four percent

Economies.com
2017-07-06 19:31PM UTC

Wheat futures slumped nearly four percent away from the highest since July 20, 2015, even as the dollar index slid for the first time in five sessions, following earlier data from the US, the world's second largest wheat exporter. 

 

As of 08:19 GMT, wheat futures due on September 15 plummeted 3.75% to $5.3900 from the opening of $5.6000, while the dollar index slid 0.51% to 95.80 from the opening of 96.29. 

 

Wheat futures was buoyed yesterday by the weekly US Department of Agriculture's report, which was delayed due to the Independence Day holiday on Tuesday, and at which the classifications of spring wheat were dropped by 3% to 37% as good to excellent from 40% in the previous week, sending prices to two-year highs before sliding on profit-taking today.

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Technical Analysis

Commodities

Wheat price returns to the bullish correction – Forecast today - 29-03-2024
2024-03-29 01:50AM UTC
Wheat Price Analysis Expected Scenario: Continuing Bullish Momentum Wheat price rallied ...
Technical Analysis

Commodities

Sugar price completes the positive pattern – Forecast today - 29-03-2024
2024-03-29 01:49AM UTC
Sugar Price Analysis Expected Scenario: Continuing Bullish Trend Sugar price managed to breach ...
Technical Analysis

Commodities

Soybean price keeps the positive stability – Forecast today - 29-03-2024
2024-03-29 01:49AM UTC
Soybean Price Analysis Expected Scenario: Continuing Bullish Trend Soybean price attempted to ...