Price Report - February 5, 2016
Slow export sales drove wheat futures lower this week. Uncertainty about Egyptian import policies continued to weigh on markets after the world’s top wheat importer cancelled its second tender in a week. The U.S. dollar weakened week over week, but bearish market fundamentals continue to limit gains. CBOT March wheat dropped 12 cents to $4.66/bu, KCBT lost 18 cents to $4.54/bu and MGEX dipped 9 cents on the week to close at $4.91/bu. CBOT March corn decreased 6 cents to $3.66/bu and March soybeans lost 15 cents to close at $8.67/bu.