Wheat Ends Mixed but Little Changed; Russia to Dominate Trade; Weather Concerns Persist: Wheat futures ended near unchanged as early buying on rising Black Sea tension gave way to focus on Russia’s probable dominance of early season trade this summer. Egypt purchased one cargo of Russian wheat at a fob price of $229/MT. Other Russian…
Wheat Ends Higher on Persistent North American Heat: Wheat futures worldwide ended higher on Monday despite Saudi Arabia’s ability to purchase rather cheap supplies for autumn delivery. The Russian interior market is stable, but the Black Sea fob market has become opaquer. There’s no doubt EU and Russia supplies will be large throughout summer, but…
Wheat Short Covering Continues; Heat in Canada, Northern US Plains Needs Watching: US wheat futures ended higher, led by spring contracts, as ongoing heat and dryness is most probable across the Northern Plains and important areas of Southern Canada. Net soil moisture loss will also persist across the spring wheat areas of Russia and Kazakhstan…
Wheat Extends Recovery on Black Sea Tension; Saudi Arabia Seeks New Crop Supply: Wheat futures worldwide ended higher amid ongoing regional weather concerns – including coming Midwest heat – and as Saudi Arabia this AM released the first new crop tenders of the major exporting countries. This tender will be filled with Romanian or Russian…
CBOT Wheat Recovers on Rising Black Sea Tensions; Canada, Russia as Climate Hot Spots: Wheat futures on Wednesday ended mixed, with CBOT & KC higher and Minneapolis slightly lower. The market at midday simply ran out of sellers following the recent collapse. Nearby contracts in Chicago and Paris are again oversold. Russian stocks are large.…
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