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…
US Wheat Ends Mixed Again; Lackluster Global Demand Caps Rally: KC futures added modest premium amid coming Plains heat & dryness. CBOT futures ended slightly weaker. EU futures also ended a bit lower as importer interest for summer supply is noticeably absent. ARC maintains that a bottom is being formed in global cash markets. But…
US Wheat Ends Higher; US Winter Wheat Rating Rises: US wheat futures ended mixed, with CBOT down slightly and KC and MGE ending firm. Milling wheat futures in Paris shed another €1.75/MT ($.05/Bu) of risk premium following weekend rainfall in C Europe and the Black Sea as the euro rallied sharply. NASS’s crop progress report…
Global Wheat Futures End Weak; Modest Weather Premium Extracted: US wheat futures ended 5-10 cents lower, led by KC futures while Paris wheat fell €1.75/MT ($.05/Bu). Coming rainfall for Eastern Europe, Ukraine and SE Russia will at the least stabilize yield potential. Some improvement is expected with the next 2-3 weeks critical for yield potential.…
US/EU Wheat Futures End Firm; June EU/Black Sea Weather Awaited: CBOT wheat futures ended strong but well off session highs. Price direction the in US and elsewhere hinges totally on EU/Black Sea weather over the next 30 days. The EU & GFS forecasts are a tad wetter in Eastern Europe, while regionally soaking rain impacts…
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