EU Wheat Stabilizes; US Market Stays in Liquidation Mode: US wheat futures ended 30-50 cents lower on Friday, while Paris milling wheat futures ended flat to slightly weaker. A boost in soil moisture lies ahead for the eastern half of the HRW Belt, but otherwise Northern Hemisphere weather patterns remain threatening. The European forecast has…
Wheat Markets Extend Correction Amid Near-Term Uncertainty Over Indian Exports: US and European wheat futures ended weaker again. As expected, US contracts fell to fill open chart gaps left on Monday. The EU market followed. There’s real uncertainty surrounding some 1.8 MMTs of wheat previously sold from India that may or may not get shipped.…
Wheat Markets Reconcile Overbought Chart Patterns; Rain Slides into US Southern Plains Next Week: US wheat futures ended sharply lower on Wednesday amid weak global equity & energy markets, strength in the US dollar and projected rainfall in portions of TX, OK and KS next will stabilize yield potential. It’s far too late to materially…
Wheat Markets Extend Rally; No Change in Adverse Global Weather Patterns: World wheat futures ended steady higher, paced by CBOT contracts, as weather patterns across the Northern Hemisphere show no signs of material improvement into the end of May. Markets are well aware of current issues in North America, India and Western Europe, but Chinese…
Wheat Markets Soar Following Indian Ban on Exports; Adverse Weather Continues in N America, Western Europe: US wheat futures rallied to limit gains, with nearby contracts in Europe rising $.55-60/Bu. India’s banning of new crop exports was not unexpected, but confirmation that some 8 MMTs will be stripped from the world’s surplus places an enormous…
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