Wheat ends lower on strong dollar

2020-11-11 21:36PM UTC

Wheat prices fell on Wednesday, as the US dollar against most currencies, amid focus on the weather conditions in South America, especially Brazil and Argentina.


Agricultural commodities drew support this week from optimism about the global economy and demand, after Pfizer and the German biotech firm BioNTech announced that their vaccine was more than 90% effective in preventing the coronavirus.


Investors in agricultural commodities are following the weather conditions in southern Brazil and northern Argentina.



Traders and analysts forecast a drop in areas planted of grain in South America due to dry weather.


The dollar index rose against a basket of major currencies by 0.3% to 93.04 points as of 21:24 GMT, after hitting a high of 93.1 points and a low of 92.6 points.


Wheat December futures fell 1.7% to $5.98 per bushel, with a day high of $6.13, and a low of $5.95.

Commodities News

Palladium News


Palladium sharpens decline to below $1000 an ounce
2023-12-08 16:57PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, sharpening losses to ...
Gold News


Gold edges up ahead of US jobs data
2023-12-08 08:12AM UTC
Gold prices rose in European trade on Friday for the third straight session ahead of US monthly ...
Oil News


Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...

Commodities Technical Analysis

Brent oil Analysis


Midday update for Brent oil 08-12-2023
2023-12-08 10:36AM UTC
Brent oil price attempted to breach 75.60 level but it returned to fluctuate below it again, which ...
Oil Analysis


Midday update for Crude oil 08-12-2023
2023-12-08 10:36AM UTC
Crude oil price traded with additional positivity to attack 70.50 level but it returned to trade ...
Silver Analysis


Midday update for Silver 08-12-2023
2023-12-08 10:36AM UTC
Silver price fluctuates at the key support 23.70, and as long as the price is above this level, our ...