US and European wheat futures ended modestly higher. There’s little new to add and follow through short covering was absent. A US-Chinese deal could be struck before the end of April, but otherwise Northern Hemisphere weather isn’t overly threatening. Note that a warmer/drier pattern forthcoming across the Northern Plains will allow US spring wheat seeding…
US wheat futures plunged to new contract lows on renewed fund selling. As of this evening, ARC estimates that managed money is net short 70,000 contracts in Chicago. This is large, but recall in years of excessive world supply (2016-2017) funds were routinely short in excess of 100,000 contracts. End user demand failed to materialize…
US wheat futures ended steady to lower, with weakness most pronounced in KC. Another round of moderate showers will impact critical areas of Ukraine/S Russia in the next two days. Early crop development in the Black Sea is said to be favorable at this early date. Funds sold 3,400 contracts in Chicago. US winter wheat…
US wheat futures ended a bit higher on late session buying/short covering. US wheat was offered cheaply to Egypt in what could be its last old crop tender, but Egypt opted to secure 240,000 MTs of Romanian & Ukrainian origin. Other news is lacking. Weather patterns are too wet across the Delta & Southern Midwest…
US wheat futures ended higher, this time driven by short covering in Kansas City. Export sales were a meager 10 Mil Bu, vs. 26 Mil the previous week. A seasonal slow down in demand lies ahead as harvests begin in N Africa and the mid-East. There is talk that US HRW could find the last…
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