Wheat Market Outlook - November 25, 2024

According to Mercantile, MATIF and U.S. futures found some support at the contract lows, but U.S. wheat is expensive compared to other origins. Black Sea wheat remains comparatively cheap, and Argentina is also working to take more demand, says Mercantile. Meanwhile, end users are not well covered, but they remain reluctant to buy as the very strong U.S. dollar and weak currencies of importing nations are not helping demand, according to Mercantile. Mercantile is 25 per cent sold at $8.00 and would hold additional sales for now.