Wheat closes higher on dry US weather

Economies.com
2020-09-16 21:27PM UTC

Wheat prices rose on Wednesday, on forests for dry weather conditions in some areas of the US, which curb supply during the harvest of agricultural crops, and lifts prices.

 

Weather agencies forecast that the Midwest states should see some dry weather conditions, which will impact the quality and production of wheat, soybean and corn crops.

 

Otherwise, a French exporters group said that Algeria is changing its wheat import terms to allow imports from countries led by Russia.

 

The dollar index rose against a basket of currencies by 0.2% to 93.2 points as of 22:15 GMT, after it hit a high of 93.2 and a low of 92.7.

 

Wheat December futures rose 0.7% to close at $5.42 per bushel, after hitting a day high of $5.43 and a low of $5.33.

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