weather conditions: However, the gains over optimism were not enough to recover losses earlier this week, according to Global Times China. On a weekly basis, the most active soybean contract for March delivery fell 7.5 cents, or 0.81 percent, to close at 9.1775 dollars per bushel. Anticipation that China will buy more US agricultural products, especially soybeans, pushed up the oil seed prices double digits during Friday's session, before the futures settled with moderate daily gains. CBOT March wheat rose 4.25 cents, or 0.82 percent weekly, to settle at 5.2425 dollars per bushel. Possible winterkill caused by the deep freeze that hit US Midwest in the past week also supported the grain, said market watchers. Wheat futures climbed sharply on Friday over dry weather conditions in western states of Australia, one of the leading wheat growers in the world.
(news.financializer.com). As
reported in the news.
Tagged under weather conditions, wheat futures topics.