US Wheat Turn Lower on Lack of News; Gulf Wheat Overpriced: US wheat futures ended steady to lower, with Sep CBOT falling 6 cents. There was no real catalyst for the break, but ARC has discussed negative seasonal trends plaguing European futures. Gulf HRW this evening is offered through Sep at $212-213/MT, vs. comparable Russian…
US Wheat Futures End Mixed; Global Cash Market Weakens: US winter wheat contracts ended slightly higher. Spring wheat contracts in Minneapolis continue their correction on projected boosts in soil moisture across the Northern Plains and Canada over the next 10 days. ARC’s work suggests that once the harvest surpasses 50%, the harvest hedge pressure will…
CBOT Wheat Ends Higher; Rainfall Elevates SRW Quality Concern: World wheat markets ended mixed on Monday. CBOT futures ended 5 cents higher as the risk of fusarium is rising across the Southern and Eastern Midwest. Spring wheat futures ended weak. Milling wheat futures in Paris continue to move lower amid negative seasonal trends and as…
Wheat Ends Mixed; Russian Interior Markets Relaxes Slightly: CBOT wheat ended slightly weaker. KC futures along with milling contracts in Paris ended steady to higher. ARC has long discussed global negative seasonal trends during the first half of summer. Private Russian crop estimates are inching higher and the market is probing for offsetting demand news.…
CBOT Wheat Probes for a Seasonal Bottom: US winter wheat contracts continue to move lower ahead of the peak harvest while spring wheat futures stay firm. There are rumors of Chinese interest in US high protein wheat and confirmation of demand will be watched for in the days ahead. Otherwise, Northern Hemisphere cash prices ended…
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