Overnight market developments
Wheat is lower again in overnight trade on CBOT, with May currently 7 3/4c easier.
Wheat fell 4 percent yesterday on speculation India, the world's second-biggest consumer, will produce enough this year to replenish stockpiles and remove the need to import.
Wheat also fell yesterday after Ukraine Prime Minister Yulia Timoshenko said the country will lift wheat-export restrictions after two years. Ukraine farmers will harvest at least 40 million tons of wheat this year, the government estimates.
The country will have enough to ship 7 million tons of the grain, Leonid Kozachenko, president of the Ukranian Agrarian Confederation, said. Last year Ukraine's exports totaled 3.4 million tons, according to the USDA.
Wheat has fallen 39 percent from a record $13.49 1/2 reached Feb. 27, but is still up 71 percent from a year earlier.
Soybeans and corn are showing little change overnight with beans around 4c higher and corn 1-2c firmer.
Wheat fell 4 percent yesterday on speculation India, the world's second-biggest consumer, will produce enough this year to replenish stockpiles and remove the need to import.
Wheat also fell yesterday after Ukraine Prime Minister Yulia Timoshenko said the country will lift wheat-export restrictions after two years. Ukraine farmers will harvest at least 40 million tons of wheat this year, the government estimates.
The country will have enough to ship 7 million tons of the grain, Leonid Kozachenko, president of the Ukranian Agrarian Confederation, said. Last year Ukraine's exports totaled 3.4 million tons, according to the USDA.
Wheat has fallen 39 percent from a record $13.49 1/2 reached Feb. 27, but is still up 71 percent from a year earlier.
Soybeans and corn are showing little change overnight with beans around 4c higher and corn 1-2c firmer.
