Wheat futures rallied sharply amid the lack of any change in the US climate pattern and as the CFTC’s report on Friday confirmed that managed funds were still rather short in Chicago. World cash markets continue to inch higher, but it’s clear the US market is content to slow exports. Gulf HRW is…
CBOT corn futures recovered much of Friday’s losses amid ongoing concern over Argentine weather (little hope of a wet pattern change), with additional heavy rain offered to the Southern US this week. Worst-case scenarios look to be materializing in Argentina, and so above-trend safrinha yields are required in Brazil. And select states in the southern US…
Argentine Heat Sustains Soil Moisture Loss: The GFS & EU models are in general agreement that lite showers will be a bit more widespread across Central Argentina into the latter part of March. However, accumulations over the next 10 days won’t exceed .25-.75”, and as high temps there continue in the upper 80s & low…
Following severe drought last autumn, the Aussie wheat market is doing its job of slowing consumption and slowing exports in an effort to keep final stocks above wheat can be considered “pipeline”. Aussie cash prices in South Australia are charted against EU & Black Sea origin below. One year ago, amid record production, the Aussie…
It was an inside day of trading for the soybean market to start the week, that left both old and new crop prices higher at the close. Different from recent weeks is that soybeans have gained against meal, and crush spreads have corrected. At Monday’s close, the May crush spread was $.38/bu under last week’s…
