RTRS: CBOT early call-Wheat down 1-2 cents in 'risk-off' trading
CHICAGO, March 22 (Reuters) - Chicago Board of Trade soft
red winter wheat futures were called 1 to 2 cents per bushel
lower Thursday, pressured by a firmer dollar and good crop
weather in the U.S. Plains, traders said.
* The dollar firmed as investors sought to shed risky assets
after a purchasing managers' survey revealed unexpected declines
in euro zone manufacturing and services in March.
* Concerns about the Chinese economy swelled the bearish
cloud over the commodities market after the HSBC flash
purchasing managers index showed factory activity in China
shrank for the fifth month in a row.
* CBOT wheat was unchanged to down 1/2 cent per bushel in
trading during the overnight Globex session. Kansas City Board
of Trade hard red winter wheat futures dropped 1-3/4 to 2 cents
while MGEX spring wheat was steady to 2-3/4 cents lower in
Globex-only trade.
* The U.S. Agriculture Department said weekly export sales
of wheat were 541,300 tonnes, topping forecasts for 400,000 to
500,000 tonnes. A week ago, export sales of wheat were 360,300
tonnes.
* Recent rains across the U.S. Plains hard red winter wheat
region boosted harvest prospects. More than 2 inches of rain
fell in southwestern Kansas. No threat of freeze damage to hard
red winter wheat that emerged early, said Andy Karst,
meteorologist for World Weather Inc.
* Japan looking to buy 133,792 tonnes of food wheat from the
United States, Canada and Australia in a weekly tender.
8:14 AM CDT LAST NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
CBOT MAY 635.75 -0.5 -0.1 631.25 641.75 8,573
CBOT JUL 645.75 0 0.0 641.75 651.00 4,567
KCBT MAY 673.25 -1.75 -0.3 670.25 681.50 931
KCBT JUL 681.75 -2 -0.3 678.75 690.25 834
MGEX MAY 796.00 -2.75 -0.3 796.00 805.00 67
MGEX JUL 792.50 0 0.0 792.50 797.75 38
EU MAY 208.50 -0.25 -0.1 207.25 209.00 3,848
