Sep CBOT wheat ended 2 cents higher despite renewed weakness in corn and beans. US export sales through the week ending July 18th totaled 24 Mil Bu, vs. 13 Mil the prior week and the largest since March. Solid HRW and HRS sales are noted – though sales were made only to traditional buyers. Russian…
Sep CBOT wheat ended exactly unchanged. The EU futures market is also struggling on rallies as harvest accelerates there. Egypt this AM bought 300,000 MTs of Romanian and Black Sea origin at an average fob price of $202/MT. Egypt’s purchase is viewed as market neutral. Note that Egypt continues to be offered sizable tonnages at…
Sep Chicago wheat ended 15 cents lower and is testing its 100-day moving average. It’s key that $4.86 holds or else a deeper correction lies head. Fresh breaking news is absent. Yet the Northern Hemisphere harvest continues to speed along amid mostly across the US PNW and Western Europe. US wheat harvesting as of Sunday…
CBOT when ended higher but settled well off session lows. A recovery was due as Sep neared oversold territory, but the fundamental story is unchanged. Active US, European and Black Sea harvesting will continue for another two weeks. US harvest progress through Sunday will meet or exceed 75% complete. US spring wheat crop conditions will…
Sep CBOT fell 12.0 cents amid additional fund liquidation. Dryness in the US PNW and across Western Europe will sustain a speedy harvest. US weekly export sales were uneventful at 13 Mil Bu. A pace of 15 Mil per week is needed to meet USDA’s target. World cash markets continue to signal less than expected…
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