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CBOT Wheat Futures Hold Firm as Traders Eye Weather and Trade Developments

24 Jan 2025 9:28 am
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Mumbai, 24 Jan (Commoditiescontrol): Chicago Board of Trade (CBOT) benchmark wheat futures ended unchanged on Thursday, as the market lacked significant fresh news. Earlier in the session, wheat futures had gained, supported by strength in corn and soybean markets.

Concerns about potential freeze damage to the dormant winter wheat crop in parts of the U.S. wheat belt have provided some support to wheat prices. Additionally, stronger corn and soybean futures, fueled by adverse weather conditions in South America, have lent strength to the wheat market.

Traders are closely monitoring developments regarding U.S. President Donald Trump's potential tariffs on imports from key trading partners. Such measures could trigger retaliatory actions, potentially impacting U.S. farm exports.

CBOT's March soft red winter wheat futures remained unchanged at $5.54 a bushel. However, regional wheat varieties faced slight declines. K.C. March hard red winter wheat futures dropped 4 cents to settle at $5.70-3/4 a bushel, while Minneapolis March spring wheat futures slipped 2 cents, ending at $6.04-1/2 a bushel.

Despite the mixed performance, weather risks and trade uncertainties continue to shape market sentiment, keeping traders cautious.

(By Commoditiescontrol Bureau: 09820130172)


       
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