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CBOT wheat futures close higher after choppy session

ReutersApr 24, 2025 8:05 PM

- Chicago Board of Trade wheat futures closed a choppy session higher on Thursday as spillover strength from corn and soybean futures and the dollar's decline offset pressure from improving weather in the U.S. Plains wheat belt, traders said.

  • CBOT July soft red winter wheat WN25 settled up 1 cent at $5.44-1/2 per bushel.

  • K.C. July hard red winter wheat KWN25 ended up 1/2 cent at $5.50-3/4 per bushel after hitting a life-of-contract low of $5.43.

  • Minneapolis July spring wheat MWEN25 finished up 3/4 cent at $6.07-3/4 a bushel.

  • Storms crossed portions of the U.S. Plains, bringing beneficial moisture to developing winter wheat crops, and forecasts called for more rain over the next 10 days.

  • The dollar .DXY staged a broad retreat as investor gloom over the lack of progress toward defusing the U.S.-China trade war reasserted itself following an interlude of optimism the previous day. A softer dollar tends to make U.S. grains more attractive to buyers holding other currencies. USD/

  • The U.S. Department of Agriculture (USDA) reported net cancellations of U.S. old-crop wheat sales in the week to April 17 totaling 145,000 metric tons, in line with trade expectations.

  • The USDA also reported weekly net sales of new-crop wheat totaling 371,700 tons, above trade expectations. EXP/WHE

  • Germany's 2025 wheat crop will increase 15.7% from last year to 21.41 million metric tons, the country's association of farm cooperatives said, raising its forecast from its March estimate of 21.36 million tons.

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