Wheat Holds Near May Low, Weighing Strong Dollar and US Exports
A harvested field of wheat in Corn, Oklahoma.
Photographer: Nick Oxford/BloombergWheat futures traded near the lowest level since May as traders weighed the dollar’s recent strength against upcoming US export figures.
A recovery in the value of the dollar this month has been “undermining the competitiveness of US exports such as grains, and weighing on Chicago prices,” CRM AgriCommodities analysts wrote in a note.