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Wheat flour mill prices slump as rains erode US drought fears

Wheat flour mill prices slump as rains erode US drought fears

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Brand Name:
DAYU
Place of Origin:
China
Model Number:
DY

Zhengzhou Dayu machinery Lo.ltd

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 Wheat flour mill prices tumbled to an eight-month low as persistent precipitation raised hopes for the breaking of the drought which has tested US winter wheat seedlings, while investors doubted a key order had gone America's way. In Chicago, wheat for March slumped 3.1% at one point to $6.91 a bushel, the weakest for a spot contract since June last year. click here to read more the news. The better-traded May lot touched $6.97 a bushel, the contract's weakest since June and a fall of 3.2%. The decline's reflected in part disappointment that it appeared that DAYU wheat had received a small proportion, if any, of a 575,000-tonne import order by Saudi Arabia. While Saudi's grain buyer, the Grain Silos and Flour Mills Organisation, did not announce origin details, many investors considered the pricing and merchants of the winning lots did not reflect US supplies. "It didn't look like there was any US stuff in there," Jerry Gidel, chief feed grain analyst at Chicago broker Rice Dairy, said.'Suddenly reversed course

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Brand Name:
DAYU
Place of Origin:
China
Model Number:
DY