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…
Wheat Ends Mixed; EU Market Trades Through Initial Resistance on Weather Concern: Wheat futures ended mixed, with CBOT and Paris milling wheat futures higher and hi-pro US contracts slightly weaker. Solid vegetation health in Manitoba and Saskatchewan has paused spring wheat’s recovery, but numerous weather issues remain. There’s still no indication of a needed pattern…
Wheat Ends Firm on Rising Global Corn Prices; Weather Concern Intact in Europe: Wheat futures ended firm, led by milling contracts in Paris amid ongoing dryness in key areas of France, Germany, Poland, Scandinavia and the Baltic Region. US spring wheat crop ratings also remain rather middling at 60% GD/EX, vs. a longer-term average of…
There’s not yet any indication that weather patterns in Canada, Europe and the Black Sea region will be changed prior to late month. The attached graphic shows the GFS ensemble model’s two-week precip (top) and temp anomaly forecasts. The coming lengthy spell of heat and dryness will impact some 50% of European wheat production, and…
Wheat Recovers on developing Northern EU drought; Escalating War in Ukraine: Wheat futures in the US/Europe ended sharply higher on Thursday. There’s more evidence to suggest Ukraine has begun its long-anticipated counteroffensive, while concern over yield performance across some 50% of Europe’s Wheat Belt is increasing. The attached graphic shows June 1-30 Percent of normal…
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