US Wheat Futures End Lower; European Cash Price Rise on Currency: CBOT wheat futures ended weaker despite confirmation of China securing two cargoes of US SRW wheat. Like corn, weekly sales data in recent weeks has been supported by China’s buying spree in early/mid-July. US wheat export commitments to other destinations are down 7% from…
CBOT Wheat Follows World Market Higher; US Basis Levels Weak: US wheat futures ended firm as markets in Europe/Black Sea were steady/firm on Wednesday. Black Sea yields have been rising slowly, the trend in Russian yield reports over the next 21 days is critical. US futures will follow the Black Sea/EU cash market on rallies,…
US and European Wheat Futures Recover; Cash Markets Still Down on Week: Global wheat futures ended moderately higher on Tuesday. Firm basis across Central Europe is noted. The US dollar fell sharply. All eyes will be on weather in Central Russia and Kazakhstan over the next 2-3 weeks. Yet, Canadian crop health continues to improve…
Wheat Falls Sharply on Global Demand Concern; US Spring Crop Stabilizes: US and European wheat markets ended deeply in the red amid ongoing Northern Hemisphere harvest pressure, an improvement in Black Sea yields and a real lack of import demand. The primary concern remains financing abilities in major importing countries that rely heavily upon tourism…
Wheat Ends Flat; Additional Black Sea Yield Data Awaited: US wheat futures ended mixed but very close to unchanged. Strong cash markets and miller demand will offer support on breaks. Whether new seasonal highs are needed in the next two weeks will be entirely a function of Black Sea yield trends. ARC mentions that Russian…
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