World Wheat Markets Mixed; US Futures Weak Amid Imports from Europe: US wheat futures ended steady to slightly lower. Paris milling wheat futures recovered as European export demand is being found. In fact, some of this demand originates as Polish wheat is being shipped to the Southeast US amid profitable import margins. The attached graphic…
CBOT Wheat Stays Weak on Black Sea Exports, Lack of News: US wheat futures ended weaker for a third session as markets worldwide continue to reel from Russia’s dominance of world trade and as Ukrainian exports to be revised upwards by 1-2 MMTs by WASDE. There’s just no bullish story in the near term as…
CBOT Wheat Tests Mid-November Low; Russian Exporters to Stay Aggressive Indefinitely: US wheat futures ended weak but off session lows as Paris milling futures ended higher and as ARC’s work suggests $8.00 CBOT fully accounts for this morning’s extension of the Black Sea export corridor. Spot end user coverage is advised on weakness, but Russia’s…
US Wheat Corrects Following De-Escalation in Black Sea; Neutral Trend Probable into Year End: US wheat futures on Wednesday ended 8-13 cents lower, led by CBOT contracts, as risk premium was shed following clarity of Tuesday’s missile strike in Poland. Tensions have eased. Black Sea shipments will be ongoing. Competition for world market share in…
US Wheat Rallies for Third Day as Ukrainian Conflict Escalates; Corridor Negotiations Ongoing: US wheat futures rallied modestly following Russian missile attacks in Ukraine and amid confusion over a possibly errant missile reaching Poland. Key is the response from NATO. Whether this negatively impacts corridor negotiations will also be monitored. Unfortunately, wheat remains tied to…
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