US Wheat Futures End Steady; Crop Improves Slightly in Southern Plains; KC-CBOT Spread Hits $1.10/Bu: US wheat futures ended firm on Monday. Egypt’s GASC ultimately cancelled its tender released over the weekend, but offers made were in line with previous fob quotes – not discounted – and as it’s probable the US winter wheat crop…
US Wheat Recovers: EU Market Ends Weak; Focus Shifts to Corridor Renewal in Mid-November: US wheat futures ended slightly higher on Friday amid a plunge in the US dollar and otherwise supportive macro markets. Wheat-specific news is lacking. A neutral trend remains probable as the market reconciles this season’s collapse in Argentine output against very…
Wheat Prices Extend Correction on US Dollar Strength; Argentine Crop Size Lowered Again: US wheat futures ended steady to 6 cents lower, with Paris milling wheat contracts flat. Russian will continue to find importer markets amid deflated fob offers and eroding importer currencies will act as a weight on global trade growth into 2023. However,…
Wheat Prices Collapse as Black Sea Export Corridor Resumes: Wheat futures at all US exchanges fell 40-60 cents as the halting of vessel navigation in Ukraine was rather short lived. Insurance companies have re-entered the Black Sea market, which provides near-term confidence, and the back-and-forth nature of wheat politics continues. Risk is nearly unmanageable. Cash…
Wheat Reverses Overnight Losses; Black Sea Resolution Unlikely in Near Term: US wheat futures in the US and Europe ended higher again as hope for a short-term solution to Russia’s suspending its place in the corridor deal faded. Talks between UN, Turkish and Ukrainian officials on Tuesday yielded nothing positive, with Russia demanding an investigation…
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