US Wheat Futures End Mixed; KC Finds Support on Drier Plain’s Forecast: US and European wheat futures ended mostly lower, though selling in KC contracts paused amid a growing likelihood that important parts of the US HRW Belt gets shortchanged on moisture next week. The attached graphic shows the EU model’s latest 7-day forecast. Regional…
US Wheat Falls on Prospect for Rain Across the Drought Areas of the Plains; KC wheat futures sees the selling pressure; Chicago wheat falls back to key support under $6.70; US and world wheat futures fell on the prospect of a long overdue Plains rain. The KC/Chicago spread fell to a $1.72/Bu premium after reaching…
CBOT Wheat Posts Modest Losses On Ukraine News; KC Continues to Shed Premium on Wetter Kansas Forecast: Poland announced they will lift the ban on Ukrainian wheat imports. While much of the wheat was earmarked for transiting Poland the details of the program are in flux. Many blamed the relatively cheaper Ukrainian prices were negatively…
CBOT Wheat Stays Firm; KC Sheds Premium on Wetter Kansas Forecast: US wheat futures ended mixed, with nearby KC futures and KC’s premium to Chicago correcting on the potential for rainfall of 1-3” across Kansas. Should the 7-10 day forecast verify, the best precip in months will fall across KS and Eastern OK. This won’t…
Wheat Extends Rally on Growing Likelihood of Black Sea Corridor Termination; Adverse Plains Weather to Persist: US wheat futures rallied 9-13 cents on firming markets in Europe and as US weather threatens US winter and spring production. ARC notes that Russian fob wheat has traded unchanged for three weeks, which validates a floor there exists…
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