Wheat closes higher on strong Asian demand

Economies.com
2020-10-05 21:31PM UTC

Wheat prices rose on Monday, as the US dollar ​​fell against most major currencies, in addition to strong Asian demand for Australian wheat.

 

The US Department of Agriculture will release its weekly report on the quality of crops and harvest later this week.

 

Weather agencies forecast that the Midwest states in the US will be prone to dry weather in the coming weeks.

 

Wheat, soybean and corn futures closed higher last week, after the USDA reported that stocks of these commodities fell more than expected during the third quarter.

 

The dollar index fell against a basket of currencies by 0.3% to 93.5 points as of 20:18 GMT, after it hit a high of 93.8 and a low of 93.3.

 

Wheat December futures rose 2% to close at $5.84 per bushel, after hitting a day high of $5.87 and a low of $5.73.

Commodities News

Gold News

Commodities

Gold falls over 1% and marks weekly losses
2024-06-21 20:25PM UTC
Gold prices fell on Friday as the dollar gained ground against most major rivals, with the precious ...
Palladium News

Commodities

Palladium climbs to three-week high
2024-06-21 15:43PM UTC
Palladium prices rose on Friday with a 3% surge, hitting three-week highs and becoming the best ...
Oil News

Commodities

Oil approaches second weekly profits as demand improves
2024-06-21 14:52PM UTC
Oil futures were mostly flat on Friday but headed for the second weekly profit in a row amid signs ...

Commodities Technical Analysis

Oil Analysis

Commodities

End of day crude oil price forecast update - 21-06-2024
2024-06-21 17:17PM UTC
Crude oil price shows more bearish bias to head towards testing the bullish channel’s support ...
Silver Analysis

Commodities

End of day silver price forecast update - 21-06-2024
2024-06-21 17:16PM UTC
Silver price broke 30.06$ level clearly and heads toward achieving more expected decline in the ...
Brent oil Analysis

Commodities

Brent oil price forecast update 21-06-2024
2024-06-21 09:19AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows slight bearish bias now, ...