World Wheat Markets End Flat on Lack of Enthusiasm; Black Sea Wheat offered Cheaply to Egypt; Aussie Market Stabilizes: US wheat futures ended steady to slightly lower. Paris milling wheat fell $.05/Bu. Wheat values should be caught in a range until a Black Sea bottom can be confirmed. Ukraine is selling wheat cheaply to rid…
Wheat Markets Add Risk Premium; Still No Confirmed Corridor Deal; US HRW Belt Stays Arid Next Two Weeks: Wheat futures in the US and Europe ended slightly higher on Wednesday following confirmation that funds were sizably short in both markets. Managed funds in Chicago on Feb 28th were short a net 92,000 contracts, the most…
Wheat Futures Extend Recovery on Fund Risk Reduction in Short Wheat; 2023 Growing Season Imminent: Wheat futures ended sharply higher on Tuesday as there’s still no confirmation over the details of the coming extension in the Black Sea export corridor. Russia’s negotiating an extension of just 60 days, which keeps importers/vessel owners on edge. ARC…
Wheat Futures End Firm Despite US Financial/Bank Issues; Plains Crop Health Unchanged: Wheat futures ended firm, with spot Paris milling wheat rallying €5.50/MT ($.16/Bu). The global fob market is weak as exporters in Eastern/ Northern Europe to work to clear existing old crop stocks. However, the break has encouraged sizable interest in forward importer coverage.…
Wheat Reverses on Dollar Weakness; Market Not Trading Fundamentals: Wheat futures ended sharply higher as a pause in selling left a vacuum in the market – amid deeply oversold technical conditions. ARC has highlighted the plunge in RSI in recent days. ARC estimates managed funds in Chicago were net short 112,000 contracts, a level not…
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