Spot CBOT Wheat Scores 4-Month High; German Yield Lowered; Russian Wheat Undervalued?: Wheat futures surged on Wednesday as speculative short covering continues. Fundamental support comes from implied higher feed consumption in the US and as Germany’s co-op trimmed its estimated production to 21.9 MMTs, vs. 22.6 last year following weeks of abnormal heat and dryness.…
US Wheat Futures End Mixed; CBOT Scores New Rally High: CBOT wheat futures ended slightly higher on Tuesday. Recent short covering has been based mostly on falling US corn yield potential and the possible need to boost SRW feed consumption. ARC also notes that the Russian cash market has stabilized, with interior prices there unwilling…
CBOT Wheat Scores 8-Week High on Strength in Corn: US wheat futures ended sharply higher for a second day as speculators are forced to pare short positions. Fundamentally, the market at current prices is rationing supplies via export demand, but the potential for sizable corn yield loss in the heart of the Midwest does on…
US Wheat Futures Surge Despite Lower Russian Fob Quotes: US wheat futures ended 23-33 cents higher on Thursday in sympathy with soaring row crop markets. Paris milling wheat futures rallied only $.06/Bu, and the addition of risk premium there has been more tepid as France gets needed rain this weekend and as Russian fob wheat…
Wheat Ends Weak on Hope for Rainfall in Europe; Russian Cash Prices Unmoved: US wheat futures ended lower as spot Paris milling wheat fell $.17/Bu on better rain chances offered to France and Germany next week. It’s critical that rain there falls as projected, and overall EU crop potential remains highly variable. A hike in…
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