Cbot Wheat Falls On Crop: friendly rains, spring wheat forecast

The Western Union

26/07/2023 19:59

CHICAGO, July 26 (Reuters) - Chicago Board of Trade
wheat futures sharply slid on Wednesday on news of a
better-than-expected spring wheat forecast in parts of North
Dakota, even as a heat wave stretched across the U.S. Midwest
and Mississippi Valley, traders said.
    * NATO said on Wednesday it was stepping up surveillance of
the
Black Sea region, as it condemned Russia's exit from a deal
assuring the safe passage of ships carrying Ukrainian grain.
    * CBOT September soft red winter wheat  WU3  settled down
40-1/4
cents at $7.20 per bushel.
    * K.C. September hard red winter wheat  KWU3  last traded
down
49-1/4 cents at $8.63-1/2 a bushel, and MGEX September spring
wheat  MWEU3  was down 38 cents at $8.94 a bushel.
    * As a heat wave overtook part of the mid-Mississippi Valley
and
the Midwest - with some farmers in Missouri reporting high winds
and blistering heat - traders said reports of crop-friendly
rains in the northern Midwest weighed on the markets, traders
said.
    * Scouts of an annual U.S. crop tour late on Tuesday
projected
that spring wheat in southern and east-central North Dakota will
produce yields that are bigger than the five-year average.


 (Reporting by P.J. Huffstutter; 
Editing by Sandra Maler)
 ((pj.huffstutter@thomsonreuters.com; 313-484-5275 (w); On X @ https://twitter.com/pjhuffstutter))