Ukraine Eliminates Tariffs for Wheat and Corn

Published on: 12:52PM Oct 07, 2011

Kansas City wheat futures traded lower this morning on news that the Ukraine has eliminated tariffs on wheat and corn and prompting weaker overnight trade in the European wheat market, traders said. 

KC wheat also traded lower overnight. 
A massive storm is still in the forecast this weekend for dry areas of the HRW wheat belt, traders added, also weighing on KC wheat futures prices. 
Minneapolis hard red spring wheat futures were sharply higher today as short positions are being forced out of the December contract, traders said. 
Employment numbers were better than expected this morning, firming up macro markets but failing to affect KC wheat prices, traders added. 

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