On June 28, according to media reports, the Chicago Board of Trade (CBOT) soft red winter wheat futures market closed sharply on Tuesday, with the benchmark period closing about 5.40% lower, the lowest level in a week.
As of the close, wheat futures fell by 27.25 cents to 39.50 cents, of which the July futures closed 39.25 cents lower at 685 cents per bushel; the September futures closed 39.25 cents lower at 699 cents / bushel; the December period closed down about 39.50 cents to close at 716.25 cents / bushel.
The most active trading range for the September futures contract is between 695.50 cents and 742 cents.
Monday’s crop progress report didn’t particularly catch traders’ attention, their attention has turned to Saturday’s upcoming report on acreage and quarterly stocks.
