Wheat resumes decline off three-week high as dollar advances

Economies.com
2018-10-22 20:15PM UTC

Wheat futures rose over one percent in American trade off October 3 highs as the dollar index scaled October 9 highs, in a day that lacks data releases from the US, the world's second largest wheat producer and exporter. 

 

As of 07:58 GMT, wheat futures due in December fell 1.31% to $5.080 away from three-week highs, while the dollar index rose 0.31% to 96.01 to two-week highs. 

 

USDA Reports Wheat Sales 

 

The US Department of Agriculture recently reported wheat sales due for the marketing year 2018-2019 at 476.0 thousand tonnes for the week ending October 11, up 40% from the previous week. 

 

Bangladesh came at the top in the buyers list with 180 thousand tonnes, followed by Japan at 78.7 thousand, an unknown client at 76.1 thousand, Italy and Philippines at 35.5 thousand and 31.7 thousand respectively. 

 

The USdA alsp reported inspections of 451.0 thousand tonnes of wheat product destined for export in the week ending October 11, up from 447.6 thousand in the previous week, with total inspected product now amounting to 7.82 million tonnes in the marketing year starting June, down from 10.7 million in the same period of last year. 

 

Commodities News

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 ...
Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...

Commodities Technical Analysis

Oil Analysis

Commodities

End of day crude oil price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Crude oil price breached 82.40$ strongly to rally upwards and approach our waited target at 83.56$, ...
Gold Analysis

Commodities

End of day gold price forecast update - 28-03-2024
2024-03-28 17:43PM UTC
Gold price rallied upwards strongly to succeed touching our waited target at 2222.86$ and attempts ...
Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...