Commodities
Wheat Prices Dip as Soybeans Trade Rangebound
The US grain and oilseed markets experienced mixed trends on Thursday, September 17. Wheat prices were lower, but December contracts for hard red winter wheat stayed rangebound, trading between $5.25 to $5.40 per bushel.
The USDA reported a significant increase in export sales of US wheat, with 325,900 tonnes sold during the week ended September 10, up 68% from the previous week but unchanged from the four-week average.
In contrast, soybean prices were neutral, continuing to trade rangebound. Export sales of new crop US soybeans totalled 1.702 million tonnes last week, in line with trade expectations.