Wheat Ends Mixed; Spring Wheat Recovers on Return of Canadian Dryness: Wheat futures ended mixed and generally lacked conviction in another mediocre-volume session. Combine results from the US and Europe are awaited, though additional rain in KS, NE and CO will keep HRW harvesting sluggish compared to normal. Close attention must be paid to Canada…
Wheat Falls Sharply on Canadian Seedings Data, Talk of Larger Crop Potential in Ukraine: Wheat futures in the US and Europe ended weak again, with Sep CBOT Paris futures falling below their respective 20-day moving averages. There’s talk that Ukrainian production may reach 20+ MMTs, vs. USDA’s currently estimated 17.5. Chart patterns appear less supportive…
Wheat Falls Sharply in US & Europe; Morocco Returns to Market: Wheat futures in the US and Paris collapsed following each market’s failure to break through chart-based resistance. Other news is lacking, and while Russian wheat is still by far the world’s cheapest origin, forward Russian offers are beginning to recover. Weather will continue to…
Wheat Ends Mixed as Russian Supply Stays Competitive: Wheat futures ended mixed on Monday. Unlike corn, CBOT futures were heavily overbought and that the Wagner Group’s coup in Russia failed over the weekend, geopolitical tension was eased while markets were closed. Russian fob wheat is offered well below comparable US/EU origin, but there’s no doubt…
Wheat Ends Lower on Broad Raw Material Weakness, Favorable Northern Plains Forecast: Wheat futures worldwide ended weaker, though were relatively resilient in the face of collapsing new crop corn and soy values. EU and US markets this week have largely ignored cheap Russian offers as focus turns to a trimming of EU output potential and…
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