U.S. national holiday.
1025 GMT [Dow Jones] EU wheat futures are little changed, with slow trade expected due to the U.S. national holiday, as Agritel notes market participants hesitated taking positions Wednesday in the run up to Thanksgiving. The risk manager adds that dry conditions persist in the southern part of the US, which is the major wheat producing region, with crops in a historically bad situation as the cold winter approaches. This raises concerns over the prospects of the next harvest, Agritel notes. January Paris milling wheat trades up EUR0.25, or 0.1%, at EUR269.50/ton.
0856 GMT [Dow Jones] Soybean futures on the Dalian Commodity Exchange fall, tracking overnight CBOT soybeans lower on profit taking and technical selling ahead of the Thanksgiving holiday Thursday. The benchmark May soybean's key support kevel is CNY4,700/ton after the government raised its purchase price 15% this year, Galaxy Futures says in a research note, suggesting the downside is limited. The benchmark DCE May soybean contract settles CNY11 lower at CNY4,746/ton; May DCE corn is up CNY1 to CNY2,426/ton; soymeal gains CNY12 to CNY3,188/ton; palm oil rises CNY4 at CNY6,762/ton; soyoil is up CNY18 to CNY8,534/ton.
Write to Hellen Kaffaf at [email protected]