Wheat Futures Worldwide End Sharply Higher; Major Downgrades to Exporter Production Lie Ahead: CBT wheat was the leader of Wednesday’s grain rally as drought worsens in Canada over the next 10 days and traders pay more attention to disappointing early yield results in Canada. AgResource also notes that unwanted rainfall of 1-4” will impact key…
US Wheat Market Ends Flat; EU Market Adds Premium; Egypt Seeks Supply for mid-September Arrival: US wheat futures ended narrowly around unchanged following Monday’s emotional rally. AgResource’s research suggests that seasonal lows in world wheat markets were scored last week. The coming arrival of new crop supply has been digested. Importers have returned to the…
The wheat outlook into late winter is straightforward and bullish. The need for US acreage expansion is noted. A fourth consecutive year of exporter stocks/use tightening lends further support. WASDE reduced major exporter production in 21/22 by 2.7 MMTs to 409 MMTs. Total world wheat trade was raised another 770,000 MTs to a new record…
Wheat Ends Mixed; CBT Weakest Market Amid Excellent Yield Reports: US wheat futures again ended mixed. Spring wheat ended higher as weather model guidance keeps meaningful rainfall absent from the US Northern Plains and Southern Canada into late month. KC futures are firm amid relatively strong basis levels, which indicates that elevated feed demand is…
World Wheat Futures End Mixed but Little Changed; Importers Becoming More Active: US wheat futures ended mixed with Paris milling wheat futures flat on Thursday. Breaking news is absent, but the list of released or soon to be released tenders continues to rise. Saudi Arabia is now in the market for 360,000 MTs of optional…
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