May 31, 2010
Canada's wheat prices decrease
The Canadian Wheat Board has decreased its price projections for most classes of wheat sold during the upcoming 2010-11 crop year in the updated report recently released.
The 2010-11 crop year begins August 1. Corn and soy had some sell offs. The corn especially weighed on the wheat market.
A beneficial weather forecast is coming up for both the spring wheat and for the winter wheat crops. There was a sluggish demand in wheat that is set a tender by Egypt. Egypt purchased 180,000 tonnes of Russian wheat in that tender.
On Friday, Chicago July corn was US$0.25-US$0.28 per cwt lower than Thursday's noon bids.
