US Wheat Futures End Lower; Break Led by KC Futures: US/world wheat futures settled lower as needed rain will fall across Southern Plains late in the weekend. Recall managed fund length in KC on Nov 10th reach a 2-year high 47,000 contracts. ARC estimates that since last Tuesday funds have sold a net 7,000 contracts.…
US Wheat Futures Recover on Rising Global Corn Price; US Premium to Other Origins Narrowing: US wheat futures rallied 2-6 cents/Bu led by spot KC. ARC detailed in today’s wire that Gulf HRW for late winter delivery is priced at just a $1/MT premium to comparable EU supply. EU wheat will not be getting cheaper.…
US Wheat Futures Struggle on Eroding Aussie Market; Russian Wheat End Users Lobbying for Stricter Export Controls: US wheat futures ended weaker. Northern Hemisphere cash market are unmoved, which suggests adequate demand is being found by Black Sea exporters. But it’s clear the Aussie market has moved to boost its share of Asian trade. Spot…
CBOT Wheat Recovers as World Cash Market is Unwilling to Break: US wheat futures shrugged off overnight losses as cash prices in the Black Sea and Europe have been unmoved by the CBOT’s break. Managed funds as of Nov 10 trimmed their net length by 16,000 contracts (33%) to 33,000 contracts. ARC estimates that since…
CBOT Wheat Recovers as World Cash Market Stays Firm; Pace of Argentine Exports Uncertain: US and world wheat futures recovered to end the week. Dec CBOT wheat’s premium to corn bounced off a longer-term uptrend line. Northern Hemisphere cash wheat is elevated despite looming competition from Australia and Russia’s uneventful Feb-Jun export quota. Wheat is…
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