Wheat Ends Firm on Jump in Russian Cash Market: World wheat futures rallied on strength in global cash offers. Spot Russian fob prices have jumped from $202 to $206/MT in recent days. Markets are transitioning from old to new crop and amid tight current stocks in Europe, Russia and Ukraine. This transition will messier than…
Wheat Ends Weak on Wet EU/Black Sea Forecast; Egypt Tender Results Not Surprising: US & EU wheat futures continue to move lower. June 1-15 rainfall in France/Germany will be well above normal amid the coming pattern change. Vegetation health maps feature better than average ratings across key spring wheat areas of Russia and Kazakhstan. Stabilizing…
Wheat Ends Weak; Egypt Finally Seeks New Crop Supply: US & European wheat futures ended lower on Monday. Above normal rain will persist across the Black Sea with needed rainfall expanding into France/Germany beyond Wednesday. Northern Hemisphere crop potential has stabilized, with favorable weather across Central and Siberian Russia to boost spring wheat yield potential…
Wheat Extends Recovery; European Rainfall Forecast to Expand West: Fund short covering continued to lift US wheat values on Friday. French milling wheat also participated in the rally, ending €1.50/MT ($.05/Bu) higher. Other fundamental news is lacking. ARC maintains that new sales only be made above $5.30 basis Sep CBOT, but coming improvement in European…
US Wheat Ends Sharply Higher; Global Market Flat: CBOT wheat futures rallied 9-10 cents on limited new fundamental input. ARC estimates that funds on Wednesday were short a net 11,000 contracts in Chicago. Crop stress will continue across W Europe, with private EU crop estimates now centered on 140 MMTs vs. USDA’s 143. Otherwise, Black…
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