Wheat heads for 9th consecutive weekly loss despite US export boost
Bullish strength: 35/100
- US wheat export sales reached a marketing-year high of 849,800 metric tons.
- China is reportedly seeking offers on US soft red winter wheat.
- Chicago wheat futures rose for a second consecutive session.
Bearish strength: 65/100
- Wheat is on track for its ninth consecutive weekly loss.
- Prices are down 2.8% over the week.
- Wheat remains nearly 25% below September highs.
- Potentially increasing Black Sea grain shipments could add export supply.
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