As for the US balance sheet, imports were lowered 10 Mil Bu to account for reduced crop size in Canada. Food use was raised slightly. ARC projects imports to be lowered another 10-15 Mil Bu, which along with reduced production pulls US HRS stocks to a near untenable 75 Mil Bu – vs. 235 Mil…
US Wheat Ends Sharply Over FSA Confusion/Ahead of WASDE: US wheat futures ended sharply lower as confusion over FSA acreage data spread through the market on Thursday. Additionally, US futures have been reluctant to rally as fresh input has been bearish on the margin. Higher crop estimates in Australia along with larger than expected carryover…
US Wheat Ends Weak on Stats Can Stocks Data; Global Wheat Trade Record through August: US wheat futures ended 10-16 cents lower, led by Minneapolis amid much larger than expected carryover stocks in Canada. Stats Can pegged final 20/21 Canadian wheat stocks at 5.7 million tons, vs. USDA’s projected 3.8. This will offset production loss…
US Wheat Stays Relatively Supported; World Market Firms; Egypt Seeks Supply for mid-Autumn: US wheat futures ended 5-6 cents lower, and the market is unwilling to break as record global consumption continues to be validated. Egypt’s GASC is seeking optional origin for late Oct/early Nov arrival. Importers remain active on breaks. This also indicates major…
Wheat Ends Firm as International Markets Recover; High Protein Contracts Lead Advance: US wheat futures ended steady to higher, with similar price action noted in Europe and the Black Sea. The global cash market has not broken this week, with EU and Black Sea fob offers perched above $300 per ton for delivery into late…
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