Wheat Ends Mixed; Market Still Plagued by Bearish Momentum, Lack of News: US wheat futures slid 5-15 cents, with KC contracts pacing the decline. Meaningful news/input is lacking. Russian fob offers have been unchanged at $320/MT (vs. US HRW at $385) in the last 6 weeks. Importers continue to buy on a hand-to-mouth basis, and…
Wheat Dismisses US Dollar Weakness; Lack of News Weighs on Market: US wheat futures ended mixed but near unchanged despite the US dollar index scoring a newer 6-month low. Futures markets worldwide have been defined by a lack of enthusiasm amid stagnant Black Sea cash prices – which continue to buy importer demand. The US…
Wheat Rallies on Short Covering Following Russian Attack on Odessa: US wheat futures ended 15-29 cents higher amid a slowing of Ukrainian shipments and concern over newfound Russian aggression. Power outages at the port of Odessa will obstruct Ukrainian grain flows. Russian shipments have been a hit by arctic cold which is causing deep freezing.…
Exporter wheat stocks/use was lowered slightly. Production downgrades in Canada and Argentina more than offset a 2.1 MMT increase in Australia. World trade was also lifted 2 MMTs to a record 210 MMTs. The price at which trade is executed stays deflated amid Russian exporters’ search for demand, but the world balance sheet also needs…
Wheat Ends Flat on Dearth of News; Weaker Dollar Battles Falling Energy Prices: US wheat futures ended little changed in thin volume on Thursday. Friday’s WASDE report is likely to feature larger Russian and Australian production and a partially offsetting cut to Argentine output. The US balance sheet should untouched completely and the market awaits…
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