GRAINS-US wheat to multi-year lows on strong dollar, crop ratings

martes 1 de marzo de 2016 15:26 GYT
 

* U.S. wheat ratings better than year-ago in key states

* CBOT May soy dips to lowest level since Jan. 6

* CBOT May corn hits lowest since Jan. 12 (New throughout, updates prices and market activity, adds quotes, changes byline, changes dateline from previous LONDON)

By Julie Ingwersen

CHICAGO, March 1 (Reuters) - U.S. wheat futures fell to multi-year lows on Tuesday, pressured by strength in the dollar and better crop conditions than last year in the Plains, analysts said.

Soybean and corn futures were also mostly down, with the most-active May contracts in both markets falling to multi-week lows.

At the Chicago Board of Trade as of 1:11 p.m. CST (1911 GMT), May wheat was down 7-1/4 cents at $4.46 per bushel after dipping to $4.45-1/2, a contract low and the lowest price for a most-active contract since June 2010.

Fundamentally, global wheat ending stocks for 2015/16 are projected to reach an all-time high, the U.S. Department of Agriculture has said, while U.S. wheat exports are forecast at a 44-year low.

A strong dollar has made U.S. grains less attractive to those holding other currencies. The dollar set a one-month high against the euro after U.S. manufacturing data appeared to stabilize in February.   Continuación...