reports usda

US Wheat Presses Lower Ahead Of USDA Reports
1255 EDT [Dow Jones] - U.S. wheat futures remain stuck in negative territory amid profit-taking and technical selling, traders say. Traders are taking money off the table ahead of the weekend and the end of the month, they add. There is position-evening ahead of the release of USDA prospective planting and quarterly stocks estimates on Monday, an analyst says. Traders are taking a step back amid uncertainty about spring planting projections, he says. Volume is thin ahead of the reports. Sharp losses in the neighboring CBOT soy complex are weighing on wheat. Weakness in outside markets is adding to the bearish tone. Commodity funds sold an estimated 2,000 contracts at the CBOT. CBOT May wheat is 36 cents lower at $9.78 per bushel, KCBT May wheat is down 40 cents at $10.15, and MGE May wheat is down 30 3/4 cents at $12.50. (TGP)
Contact us in Chicago at 312-750-4075; tom.polansek@dowjones.com
(END) Dow Jones Newswires
March 28, 2008 12:56 ET (16:56 GMT)
Copyright 2008 Dow Jones & Company, Inc.
The Dow Jones content is the property of Dow Jones or its licensors, and is protected by copyright and other intellectual property laws. If you are an individual, you agree not to store, copy, reproduce, modify, distribute, transmit, display, perform, publish, transfer, create derivative works from, broadcast or circulate any Dow Jones content to anyone, including but not limited to others in the same company or organization, without the express prior written consent of Dow Jones.If you are an entity, you agree not to permit access to the Dow Jones content by anyone other than an employee of you.
Notwithstanding the foregoing, the Dow Jones content may be copied and sent without charge in the ordinary course of business provided all copyright and other proprietary rights notices, the original source attribution, and the phrase “Used with permission from Dow Jones & Company” are included. Dow Jones content may only be used in this way for a non-commercial purpose, meaning such copying:

fxstreet.com


Tags: ,