PARIS/SINGAPORE, June 20 (Reuters): Chicago wheat futures fell further to two-month lows on Thursday as traders remained focused on U.S. harvest progress and improved production prospects among other major exporters.
Corn and soybean futures also dipped as a heatwave in the United States was not seen posing a major threat to crops.
With the Chicago Board of Trade (CBOT) reopening after a public holiday on Wednesday, September soft red winter wheat was down 1.1% at $5.92-1/4 a bushel by 1037 GMT.
The contract earlier fell to $5.90-3/4, its lowest since April 22.
"There is plenty of wheat coming out of the United States and the Russian crop is stabilising," said Ole Houe, director of advisory services at IKON Commodities in Sydney.
"In the near term there is not much to stop prices from sliding further."
The U.S. Department of Agriculture said on Monday that the winter wheat harvest was well ahead of the average pace of recent years and that growing conditions for both winter and spring wheat had improved last week.
Wheat futures extend losses
FE Team | Published: June 20, 2024 22:16:36
Wheat futures extend losses
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