Some US Wheat Futures Down Sharply Following Corn and Soybeans. CME wheat futures lost 2.6% while KC was down 2.2%. MGE wheat futures was the exception closing at $9.04, up 7 cents. Wheat exports were the star this week in the Export Sales Report. Net sales of 473,200 metric tons (MT) for 2021/2022 were up…
US Wheat Futures Settle Mixed with Traders Growing Concerned about EU/Russian Crops, Offset by Rain in the N AM Plains. US wheat futures were mixed with CME and KC higher but MGE down. CME futures rose 10-11 cents; KC was up 7-9 cents; but MGE dropped 14-18 cents. Winter wheat prices rose on concerns over…
US Wheat Futures Settle Mixed with European/Russian fob Values Advancing; Some Rain for Manitoba Wheat; US wheat futures closed mixed with Minneapolis wheat correcting on spreads following an improved prospect of rain across S Manitoba and SE Saskatchewan. The showers will add test weight but come too late in the maturation process to save the…
US Wheat Futures hold Rally and Buck Decline of the Financial Markets; Spring Wheat Crop Rating Nears Historic Low: The worsening and dire Canadian Drought lifted US wheat futures to start the week and buck bearish price trends of corn/soybeans. Short-positioned funds were buyers which lifted Chicago above $7.00 throughout the trading day. Minn spot…
CBT Wheat Hits 5-Week High; Early Russian Yields Concerning: Spring wheat futures scored new rally highs, while September CBT nears $7.00. Wheat’s bullish story is centered on rapidly declining exporter production, which amid record global consumption, triggers a record low exporter stocks/use ratios. Managed funds in Chicago on Tuesday were net short 24,000 contracts and…
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