Wheat heads for ninth weekly loss despite US export boost
Business Recorder • • 1 min read
Chicago wheat futures gained 0.5% to $6.06-3/4 a bushel on Friday, but remained on course for a ninth straight weekly decline, with a 3% loss for the week. Business Recorder reported that demand for US grain, including possible Chinese purchases, supported prices after they reached a near four-month low earlier in the week.
USDA figures put net sales of 2026-27 wheat for the week ending October 22 at 849,800 metric tons, the highest level in the marketing year, while exports were running ahead of expectations. Potentially larger shipments from the Black Sea and upcoming harvests in Australia and Argentina limited the outlook for prices; corn and soybeans were also set for weekly declines.
At a glance
- Chicago wheat was up 0.5% on Friday but headed for a ninth weekly decline.
- US wheat export sales reached a marketing-year high of 849,800 metric tons.
- Corn and soybeans were also on track for weekly losses.
Originally reported by Business Recorder
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