** Wheat Falls Sharply as EU/Black Sea Yield Potential Improves: US and European wheat futures ended weak. The EU and GFS models continue to trend wetter, not drier, in key parts of Europe, Ukraine and S Russia. Rain is falling currently across W Europe. This system moves eastward into the Black Sea next week. The…
** CBOT Wheat Ends Higher as May First Notice Day Looms: US wheat ended steady to higher. SRW basis in Toledo has firmed to even money with CBOT futures. Few if any deliveries are expected against expiring May in Chicago. Even Plains HRW basis is stronger than in recent years for late April. Yet, ARC’s…
** CBOT Wheat Ends Lower on Improving EU Weather Forecast; US Crop Rating Drops: July CBOT wheat settled 6.75 cents lower. Confidence is rising with respect to a needed and lasting pattern shift in Europe and much of the Black Sea into mid-May for rain. Key areas of Southern Russia will stay arid, but the…
** Wheat Ends Sharply Lower; Additional Rain Falls Across HRW Belt: US wheat futures ended 7-20 cents lower led by May CBOT. May CBOT wheat fell and closed below its 50 day moving average which is likely to spark additional fund liquidation early next week. The 50 day in KC May wheat rests at $4.69.…
** Wheat Ends Mixed; EU Weather Forecast Improving: US futures ended mixed. Spot CBOT/KC are struggling at their respective 20-day moving averages, while the European weather forecast is improving. With new crop Gulf HRW offered some $.80/Bu over comparable German/Russian origins, an old crop demand spark is not anticipated. Rallies will be a function of…
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