CBOT wheat hits 2-year highs, ends lower on profit-taking
WEAT•CBOT wheat climbs to two-year highs before profit-taking sets in
Chicago Board of Trade wheat futures reached two-year highs on Thursday as hostilities in the Black Sea escalated, but ended lower as investors took profits.
- CBOT September soft red winter wheat WU26 settled down 9-1/2 cents at $6.96-1/4 per bushel, after reaching news highs not seen since May 2024.
- K.C. September hard red winter wheat KWU26 ended down 3-3/4 cents at $7.59-3/4 a bushel and Minneapolis September spring wheat MWEU26 ticked up 1 cent to finish at $7.30 a bushel.
- Shipowners have temporarily suspended vessel arrivals at Ukraine's Black Sea ports for agricultural exports after a recent surge in Russian attacks on ports and merchant shipping, the country's agriculture minister said.
- Crop scouts on an annual three-day tour of North Dakota's hard red spring wheat crop projected an average yield in the northwest and north-central part of the state at 48.0 bushels per acre, up from 47.1 bushels in the same area last year and above the tour's five-year average of 43.8 bushels.
- The U.S. Department of Agriculture reported net U.S. wheat export sales in the week ended July 16 at 290,016 metric tons, in line with trade estimates for 200,000 to 550,000 tons.
