** CBOT Wheat Follows EU Higher; Russian Wheat Looking for Demand: US wheat futures ended modestly higher but world prices are beginning to diverge. Matif futures in Paris ended $.10/Bu higher as strong EU export demand is ongoing. Cash prices in Europe are firm. However, spot Russian fob offers have fallen to $224/MT, vs. $226…
** CBOT Wheat Rallies Slightly; World Weather Patterns Cap Rally: US futures ended slightly higher. Today’s surge in macro markets and a massive injection of capital into China’s financial system is beginning to ease longer term concerns surrounding the economic impact of coronavirus. Yet, wheat-specific news is lacking. Needed boosts in soil moisture lie ahead…
** US Wheat Ends Steady to Lower; World Market Continues Correction: CBOT wheat futures ended mixed. March ended fractionally higher and March’s premium to May remains firm at 1.5 cents. EU wheat futures ended weaker. CBOT futures in recent sessions have corrected sharply as nearby Chinese demand is debated. The spread of coronavirus won’t help…
** World Wheat Correction Continues; CBOT Chart-Pattern Looks Heavy: CBOT wheat futures ended 4-7 lower on additional fund liquidation. Managed funds on Tuesday were long a net 48,000 contracts in Chicago – a record for late January. ARC estimates that since Tuesday funds have sold 10,0000 contracts, but this length is in jeopardy of liquidation…
** CBOT Wheat Ends Weak but Near Session High: US wheat futures ended fractionally weaker on fund/macro-based selling. Wheat’s performance in the US & Europe was more stable than neighboring summer row crop futures. It’s premature to turn outright bearish wheat and a more lasting/substantial break likely awaits on favorable early season Northern Hemisphere crop…
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