** Wheat Recovers on Fund Short Covering; US Crop Rating Declines: US wheat futures ended sharply higher, led by KC contracts. Concern over lingering Black Sea dryness, slowed seedings in Europe and bitterly cold temps across the Central Plains HRW Belt contributed. Both CBOT and KC futures traded easily through their 100-day moving averages. Next…
Wheat Extends Post-USDA Loss: CBOT wheat futures ended 4 cents lower. European trade today was rather quiet amid a host of holidays, but EU futures and cash prices also ended modestly weaker. World trade volumes will be boosted beginning Tuesday, but the market lacks fresh bullish input. Updated world cash prices are displayed in the…
US and European futures on Friday were focused on a new projected record in global wheat stocks. World stocks were raised another 500,000 tons as production was lifted in Russia, Ukraine and Europe. Combined production there was raised 3 MMTs, which more than offset a combined reduction in the Southern Hemisphere worth 1.2 MMTs. ARC…
CBOT Wheat Follows Corn to Modest Losses; World Market Fractionally Lower Ahead of WASDE: CBOT wheat futures ended lower amid weakness in corn and as EU futures fell slightly ahead of Friday’s WASDE. Fresh wheat-specific news is absent but new data continues to confirm the world wheat market lacks a major demand story. Funds in…
CBOT Wheat Ends Flat; Russian Market Weakens Again: CBOT wheat futures ended slightly higher, with KC and MGE contracts ending slightly lower. The lack of Chinese demand continues, but more important has been the correction in Black Sea cash markets. Steady bullish fuel is needed to sustain rallies with managed fund length in Chicago estimated…
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