** CBOT Wheat Ends Firm on Strong World Cash Market: CBOT wheat futures ended steady to higher. It’s clear the world cash market is moving higher, with spot Russian fob this evening quoted at $225/MT, vs. $224/MT on Friday. There’s still no indication that world wheat trade flows will be disrupted by government intervention through…
** After Volatile Session, Wheat Futures Up 1-8 Cents: After the May contract spanned a 25 cents trading range, CME futures closed up by just 1-4 cents. KC futures closed 1-3 cents higher while MGE contracts gained 3-8 cents. Russia will impose an export quota for grains of 7 MMT. Traders estimate that it only…
** US Wheat Futures End Sharply Lower; SRW Cash Market Weakens: US wheat futures ended 6-13 cents lower, led by contracts in KC. Export sales were large but included the known 7 Mil Bu sold to China. Matif wheat futures in Paris settled $.12/Bu lower. Funds sold a modest 2,700 contracts. ARC doubts that a…
** US Wheat Futures Surge on Fund Buying; Rising Interior Russian Market Grabs Attention: US wheat futures futures ended sharply higher as did contracts in Europe. EU basis is steady and the world cash market has broadly followed futures higher. Funds bought a sizable 13,000 contracts in Chicago in which exacerbated today’s CBOT/KC price rise.…
** CBOT Wheat Corrects as Overbought Territory Neared; World Cash Market Firm: US wheat futures ended mixed, with CBOT contracts slightly lower and other markets slightly higher. Wheat-specific news was lacking, but importantly EU cash prices are firm and Black Sea offers jumped $5/MT. Russian interior wheat prices have fallen sharply in US dollars as…
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