CBOT wheat bounces on technical trading, weak dollar
CHICAGO, Jan 6 (Reuters) - Chicago Board of Trade wheat futures rebounded on Monday on a technical correction and a dive in the U.S. dollar, according to analysts.
CBOT March soft red winter wheat WH25 settled up 11-1/4 cents at $5.40-1/2 a bushel.
K.C. March hard red winter wheat KWH25 ended up 14-1/4 cents at $5.53-1/4 a bushel and Minneapolis March spring wheat MWEH25 rose 14-1/2 cents to end at $5.92-1/4 a bushel.
The U.S. Department of Agriculture reported export inspections of U.S. wheat in the latest week at 412,342 metric tons, above trade expectations for 200,000-350,000 tons. USDA/EST
The U.S. dollar was lower on Monday in volatile trading after conflicting reports about how aggressive President-elect Donald Trump's planned tariffs will be when he takes office.
A weaker dollar tends to make U.S. exports more competitive on the global market for holders of other currencies.
(Reporting by Renee Hickman; Editing by Sandra Maler)
((renee.hickman@thomsonreuters.com))
Related Articles
Gold Stocks: Should Investors Consider Buying Them?
TradingKey - While global stock markets and Bitcoin are close to all-time highs, there are also other assets out there that investors should consider.
Trump’s Agenda Already Faces Irresistible Forces
WASHINGTON, Jan 8 (Reuters Breakingviews) - President-elect Donald Trump’s legislative agenda faces roadblocks before he even takes office. Despite his Republican Party controlling all branches of the federal government, resolving a once-in-a-decade fight over the tax code as well as immigration...
Why Did Red-Hot Quantum Computing Stocks Just Plunge Over 40%?
TradingKey - Unless you’ve been living under a rock in the last few months of 2024, most investors will have been aware that quantum computing stocks were on fire. Given the hype surrounding the breakthrough of the “Willow” quantum computing chip by Alphabet Inc (NASDAQ: GOOGL), quantum computing st
