CBOT Wheat Recovers on Rising Black Sea Tensions; Canada, Russia as Climate Hot Spots: Wheat futures on Wednesday ended mixed, with CBOT & KC higher and Minneapolis slightly lower. The market at midday simply ran out of sellers following the recent collapse. Nearby contracts in Chicago and Paris are again oversold. Russian stocks are large.…
Wheat Falls Sharply on Demand Concerns, Weaker Russian Offers: Wheat futures in the US and Europe ended sharply lower as Russian wheat for old and new crop delivery is buyable at $230-240/MT – new seasonal lows. Russia and Europe will be well supplied in the near term as large stocks collide with seasonally weak demand…
Wheat Ends Mixed With KC & MGE Futures Higher and SRW Nearly Unchanged: KC wheat futures were down 1 cent to 8 cents higher at the close. Similarly, MGE futures rose 7-8 cents. The CME’s SRW contracts were nearly unchanged to up 2 cents at the close. Rain in the Plains and expectations that old-crop…
Wheat Ends Sharply Lower in Back-and-Forth Trade; Large Old Crop EU/Russian Stocks Keep Cash Price Stable: Wheat futures ended sharply lower in a reversal of yesterday. US wheat futures are trying to balance out large old crop stocks and the need of expelled Russian exporters to sell stocks prior to June. Funds were sellers of…
Wheat Ends Sharply Higher; Sizable Fund Short Collides with World Weather Concern: Wheat futures ended sharply higher in the US and Europe. Tuesday’s specific catalyst is difficult to finger, but weather in large parts of Russia remains threatening, net soil moisture loss will be ongoing in large parts of Canada, and a new threat is…
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