Global wheat market: U.S. and Black Sea weather concerns ease, wheat prices mostly fall

On Friday (February 6), the March soft red winter wheat futures on the Chicago Board of Trade (CBOT) closed at $5.2975 per bushel, down 1.5% from a week earlier. The March hard red winter wheat futures on the Kansas City Board of Trade (KCBT) closed at $5.3125 per bushel, down 2.5%. The March hard red spring wheat futures on the Minneapolis Grain Exchange (MGEX) closed at $5.70 per bushel, down 1.4%. The March wheat price on the Euronext exchange was 190 euros per ton, down 2.2%. The Argentine Upper River wheat price was $209 per ton, up 0.5%. On Friday, the ICE U.S. Dollar Index closed at 97.506 points, up 0.67% from a week earlier. Over the past week, the global wheat market continued its typical range-bound oscillation pattern, showing that the market remains highly cautious about new pricing cues and lacks the momentum for a trend-breaking breakthrough. From the futures trend, the core feature of this week was the repeated tug-of-war. Driven by the strength in soybean prices, ...