CBOT wheat ends nearly unchanged, hovering near six-week lows
DBA•CBOT wheat futures ended nearly unchanged, near six-week lows, as a Saudi import tender lifted demand sentiment while a stronger U.S. dollar capped prices. December soft red winter wheat closed 1/4 cent higher at $6.83 per bushel.
1. Wheat futures settle mixed
CBOT December soft red winter wheat closed 1/4 cent higher at $6.83 per bushel. Kansas City December hard red winter wheat fell 2-1/4 cents to $7.35-1/4, while Minneapolis December spring wheat rose 1-1/4 cents to $6.98.
2. Tender supports demand sentiment
Saudi Arabia announced it was seeking to buy 535,000 metric tons of wheat for shipment in November and December. Traders viewed the tender as a sign that lower prices were stirring fresh demand after Saudi Arabia canceled its previous tender on September 7 because of high prices. A stronger dollar continued to cap prices, while a lack of progress toward restoring normal Black Sea shipping also underpinned wheat.
