US Wheat Futures End Steady to Weaker as Argentina Rushes to Export: World wheat futures ended mostly lower on Wednesday. There’s been a surge in wheat export registrations in Argentina in the last 48 hours as market participants there fear the government will move to slow/cap shipments amid reduced production. Argentine wheat on a fob…
CBOT Wheat Finds Fresh 6-Year High; Interior US Basis Stays Firm: World wheat futures ended sharply higher. World wheat cash markets are adding premium amid Russia’s looming export levy and record global demand. Record trade and the loss of Russian supplies from February onward will shift some measure of demand to North America by spring.…
US Wheat Futures End Near Unchanged; World Market Firm: US wheat futures ended higher in Chicago, but slightly weaker in KC in a two-sided trade. Fresh wheat-specific news was absent, but downside risk remains severely limited amid rising world fob offers. Best guesses place Russian fob wheat for spring delivery above $280/MT vs. Gulf HRW…
CBOT Wheat Hits 6-Year High; No Sign that Black Sea Cash Market is Weakening: US wheat futures ended sharply higher. The European market followed as Algeria closed a tender that likely included 400-600,000 MTs of EU wheat exclusively. March CBOT’s premium to July is $.12/Bu and tightening spreads suggests the recent rally is fundamentally (cash…
US Wheat Futures Follow Corn/Soy Higher; World Cash Market Firms on Currency, Rising Black Sea Market: US wheat futures rallied 5-8 cents, led by KC. KC’s discount to Chicago continues to narrow, albeit slowly, and ARC’s work suggests that KC will reach parity with Chicago on any hint of adverse spring weather in Russia or…
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