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…
Wheat Tests Lower End Lower of range on corn/soybean weakness; US Fob Prices Nearing Competition: US, European and Black Sea wheat futures ended 6-10 cents lower on Wednesday. The US’s logistical issues are cited, but ARC notes that US wheat shipments are rather low until the second half of the crop year. ARC best guess…
Wheat Maintains Bullish Leadership; Global Cash Market Firms: US wheat futures ended flat despite ongoing weakness in row crop markets. US futures cannot ignore the ongoing rapid rise in global cash markets, and this week’s return of demand from Algeria, Turkey and Iran validate calls for record global wheat consumption in 2021/22. ARC in this…
Egypt Buys Wheat at New Multi-Year High Price; Importer Demand Remains Intact: US wheat futures followed neighboring corn and soy to modest losses, while EU and Black Sea cash grain markets continue to add premium. Egypt’s GASC this AM bought 180,000 tons of Ukrainian and Romanian origin at an average fob price of $307 per…
US Wheat Futures End Mixed; Spring Wheat Adds Premium Ahead of Stats Can Release: Winter wheat contracts were weaker, Dec Minneapolis rallied 7 cents. Stats Can on Monday is expected confirm that Canadian wheat exports this year will be no larger than 16 MMTs – the lowest since 2002. As detailed in this evening’s wire,…
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