CBOT wheat falls as Egypt reports shipment delay
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E-mail Xinhua, December 6, 2018
CHICAGO, Dec. 5 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures traded mixed on Wednesday morning with wheat falling sharply over news of delayed shipments to Egypt.
As of 1609 GMT, the most active March 2019 corn was down 0.25 cent at 3.845 dollars per bushel, March wheat was down 7.25 cents at 5.1525 dollars per bushel. January soybeans were up 1.75 cents at 9.135 dollars per bushel.
Egypt's state importer GASC is reportedly failing to open letters of credit on 945,000 metric tons of wheat, impacting deliveries from late November into late December and even January 2019.
According to Chicago-based agricultural research firm AgResource, the 30-45 day hiatus on accepting shipments by the world's top wheat importer will be a bearish development for the U.S. and world wheat markets. Enditem
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