CBOT Wheat Extends Correction on Weak Global Cash Market: US wheat futures fell another 7-12 cents, led by July KC amid coming Plains precip. Heavy rain/snow will act to boost crop ratings into late March/early April – prior the arrival of heat. ARC expects drought expansion to resume thereafter, but short-term extraction of weather premium…
CBOT Wheat Follows Corn to Modest Loss; Break Entices Egyptian Demand: CBOT wheat futures were dragged lower by plunging corn/soy markets. Moisture accumulations of 1-3” is forecast across CO, KS and NE this weekend. Such precip will act to ease abnormal dryness/drought that has been building for months. Seasonal forecasts maintain drought expansion longer term…
The USDA raised 20/21 global wheat consumption to a record 770 MMTs amid larger projected Chinese feed use. Despite record corn imports, Chinese corn prices maintain a premium to wheat. Chinese protein production continues to recover. Aussie production raised 3 MMTs as expected which was absorbed by larger exports and feed use. The exporter and…
Wheat Unable to Rally on Plains Rainfall: US wheat futures ended slightly lower as soil moisture improvement lies ahead for the whole of the S Plains and pockets of S Nebraska. Yet, the market will be unable to break between now and harvest amid firm global cash markets and record low EU stocks. Wheat stays…
Wheat Pushed Higher by Row Crops; Wheat Follows Corn in Near-Term: US wheat futures ended 2-7 cents higher on the heels of surging corn/soy markets. Black Sea cash guidance remains lacking and weather holds limited importance for wheat supply and demand until April. Yet, the extent of summer feed consumption will be determined by South…
Contact
submission
You have successfully added an item to your cart! You may view the contents of your cart and proceed with checkout, or continue shopping.
Multiuser
subscription
How many users would you like to add?
