CME futures ended lower, while spring wheat contracts ended 5-7 cents higher amid coming snow and ongoing delays in seeding progress. Spring acreage will be an issue if warmth and dryness fails to materialize by early May. However, otherwise, a big US high protein wheat crop is in the making. Winter wheat crop conditions don’t…
Changes in the world balance sheet were also rather benign. A year ago, the USDA had made an aggressive cut to their estimate for the Argentine soybean crop, which dramatically changed the global outlook for the year. This year, the Argentine crop is in good shape, and total S American production is set to increase…
CME wheat ended steady/slightly lower while other contracts ended firm. There’s little new to add, with US and world wheat balance sheets to be basically unchanged in Tuesday’s WASDE. It’s the May WASDE and EU/Black Sea acreage – that’s awaited. National US winter wheat crop ratings as of Sunday were 60% GD/EX vs. 56% the…
US wheat futures closed lower amid weakness in the summer row crops and inability of the US and China to reach a trade deal. US wheat will likely be sold to China should a deal be completed, which would return a large buyer to the US. Â CBOT brokers tell ARC that fund managers sold 3,200…
Wheat futures ended mostly steady, though Minneapolis continues to shed risk premium amid a relatively drier forecast offered to the Northern Plains. EU futures also ended steady.  US all wheat exports sales through March 28th totaled 25.9 Mil Bu, the largest since late November. US Gulf wheat is highly competitive with other origins, and…
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