Even though wheat partook in the plunge in prices of crop cousins soybeans and corn, it still held up pretty good taking all factors into consideration.
September wheat on the CBOT dropped by 14 1/4 cents to $7.65 3/4 a bushel, while Kansas City Board of Trade September wheat dropped 10 1/2 cents to $7.96, and Minneapolis Grain Exchange September wheat rose 1/2 cent to $8.53 3/4.
There were about 3,000 wheat contracts that sold on the CBOT today.
"I think, technically, it's acting fairly well," Alan Brugler, president of Brugler Marketing & Management, said of wheat. "I would attribute most of the selling to fund-type liquidation."
As far as their companion crops, November soybeans fell 47 cents to $12.22, while December corn declined 17 1/4 cents to $5.27 3/4.
No comments:
Post a Comment