Profit-taking and a technical correction drove nearby Chicago Board of Trade and Kansas City Board of Trade wheat futures limit down Friday.
CBOT March wheat ended down limit down, 30 cents lower, at $8.85 per bushel. KCBT March wheat fell 30 cents to $9.14, and Minneapolis Grain Exchange March wheat closed down 23 3/4 cents at $10.30.
Egypt bought 30,000 tons of U.S. soft red wheat, 30,000 tons of Russian wheat and 200,000 tons of Kazakh wheat for delivery Feb. 15 to March 15. However, the amount of U.S. wheat sold was too small to be bullish.
Weekly U.S. wheat export sales for the week ended Dec. 20 were 419,000 tons, according to the U.S. Department of Agriculture. The total sales, including299,000 tons from the old-crop and 120,000 tons from the new-crop, were withintrade estimates of 200,000 tons to 550,000 tons.
KCBT March wheat was the first contract to fall limit down as profit-takingweighed on the market. Trading was thin as the market was in holiday mode, so the losses were accelerated.
Volume was thin at the Minneapolis Grain Exchange ahead of the New Year, and trading was choppy. The market mainly followed activity at the CBOT and KCBT.
CBOT March wheat ended down limit down, 30 cents lower, at $8.85 per bushel. KCBT March wheat fell 30 cents to $9.14, and Minneapolis Grain Exchange March wheat closed down 23 3/4 cents at $10.30.
Egypt bought 30,000 tons of U.S. soft red wheat, 30,000 tons of Russian wheat and 200,000 tons of Kazakh wheat for delivery Feb. 15 to March 15. However, the amount of U.S. wheat sold was too small to be bullish.
Weekly U.S. wheat export sales for the week ended Dec. 20 were 419,000 tons, according to the U.S. Department of Agriculture. The total sales, including299,000 tons from the old-crop and 120,000 tons from the new-crop, were withintrade estimates of 200,000 tons to 550,000 tons.
KCBT March wheat was the first contract to fall limit down as profit-takingweighed on the market. Trading was thin as the market was in holiday mode, so the losses were accelerated.
Volume was thin at the Minneapolis Grain Exchange ahead of the New Year, and trading was choppy. The market mainly followed activity at the CBOT and KCBT.
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