Wheat Falls on Modest Black Sea Rainfall, Elevated HRW Ratings
US wheat futures ended steady to lower, with weakness most pronounced in KC. Another round of moderate showers will impact critical areas of Ukraine/S Russia in the next two days. Early crop development in the Black Sea is said to be favorable at this early date. Funds sold 3,400 contracts in Chicago. US winter wheat…
Corn Ends Firm; Brazilian Weather Favorable
CBOT corn futures ended a bit higher as US/China negotiations near an end, and as funds (index and managed) have very little long exposure. A choppy holiday-shortened week lies ahead. US corn seeding as of Sunday reached 3% complete, even with this week a year ago vs. the 5-year avg of 5%. Only 2.8 days…
Additional Rain to Fall Across Black Sea Winter Wheat Belt
The EU/Black Sea forecast maintains a general trend of declining soil moisture over the next 10 days. However, key parts of Eastern Ukraine and Southern Russia will see another round of needed showers in the next 48 hours. This will bring total April precip to near normal levels. The graphic at left shows historical April…