US Wheat Ends Firm; Minneapolis Contracts Lead on Sluggish Planting: Wheat futures ended steady to higher on Monday in sympathy with row crops. US spring wheat seeding is just 64% planted vs. 73% on average with progress in North Dakota only 48% complete. Some measure of acreage loss is anticipated, and it’s critical that even…
Wheat Stays Weak on Reduced Russian Export Tax, Plains Rainfall; July KC Trades in Weekly Range of $1.00/Bu: Wheat futures on Friday ended lower by varying degrees, with long liquidation ongoing in KC and Minneapolis. A decent fund length was established in KC early in the week which along with overbought technical signals triggered the…
Wheat Extends Correction on North American Rainfall Forecast; KC Wheat Overbought on Wednesday: Wheat futures ended sharply lower on Thursday amid net export sales cancelations, which is not unusual in mid-May, and as the EU and GFS models at spotty showers to important areas of the Canadian Prairies. ARC does note that the better performing…
Wheat Ends Sharply Lower Amid Black Sea Corridor Extension; KS Wheat Yields Disappoint; KC-CBOT Spread Reaches $2.58/Bu: Wheat futures worldwide ended lower as Turkey and Ukraine both suggested the corridor has been extended another 60 days and as Russian wheat remains cheap in the world marketplace. Russian fob wheat for Jun-Aug shipment is quoted at…
Wheat Ends Mixed; CBOT Follows Corn; Hi-Pro Market Adds Risk Premium: CBOT wheat ended 11-13 lower in sympathy with corn; KC & Minneapolis futures ended steady/higher. The KS wheat tour’s day-one estimate will be available this evening, but reporting through the day was generally on par with NASS’s 29 Bu/Acre estimate. ARC detailed in this…
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