Back to Main Afternoon Report: Commodities Receive Some Protection From A Weaker $A

• Published: 2010-02-04 13:18:53

  Wheat prices were unchanged to stronger across the country today, despite a double digit losses in CBOT wheat futures. Fund selling and a stronger $US saw CBOT march corn end down 18.25c to 469USc/bu. Funds were aggressive sellers as soybeans and corn entered double digit losses and as selling accelerated. The $A lost nearly 1/2 a cent against the $US, which provided protection against losses.
  
  Canola prices were also stronger, despite losses in the Winnipeg contract. March Winnipeg canola futures finished Wednesday's session on the defensive, losing $3.20 over the day to close at CA$377/t. Local prices were $3-5/t higher today across the country, again gaining protection from the weaker $A.
  
  Barley and Sorghum prices were unchanged. In Australia, the sorghum market has welcomed rain to much of the Central Queensland sorghum belt. Unfortunately the rain has been focused on the west and northern parts of the state and much of the darling downs have only received modest falls, maintaining a dry profile as we near an early harvest in parts
  

  Tags: Wheat ,  Oilseeds ,  Barley , 

  

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