Wheat Futures Correct on Wetter Plains Forecast; Extreme Heat Continues in India: US wheat futures ended weaker as model guidance maintains a needed expansion of Central US rainfall into E OK, E KS and NE within the next 5-7 days. This rain will stabilize crop health, any/all rain is welcomed amid current severe to exceptional…
US Wheat Futures End Mixed; KC Futures Erode on Wetter Plains Forecast: Spring wheat futures ended higher for an 4th day while contracts in Chicago/KC ended slightly lower. The EU and GFS models agree that rainfall will reach into portions of the HRW Belt, a positive for yield stabilization. However, the TX/OK Panhandles and Western…
World Wheat Markets Rally Sharply Amid North American Weather Threats; EU Gov’t Lowers Yield: Spring wheat’s rally on Tuesday was capped by larger than expected Canadian seeding intentions, but contracts elsewhere continue to add premium. There’s still no pattern change indicated in North America into the first week of May. Europe’s crop monitoring body reduced…
US Wheat Futures End Firm; Spring Wheat Market Begins Adding Weather Premium: US and European wheat futures ended steady to higher. The market now expects a drawn out conflict in Ukraine, with importers needing to add to new crop coverage rather soon. Additionally, North American weather remains worrisome for both winter and spring production. An…
US Wheat Futures End Mixed; KC/MGE Gain on Chicago: CBOT wheat futures ended slightly lower, but other contracts, including in Europe, ended higher by varying degrees. Sep Paris milling wheat rallied €10/MT ($.25/Bu). European wheat export potential remains record large, and importers will begin to seek new crop supply coverage in early summer. North American…
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