World Wheat Markets Continue Surge as Russia/Ukraine Dig In: US wheat futures ended limit up as the loss of Black Sea exports collides with ongoing new crop supply threats in the US Plains and North Africa. Traders are trying to understand the loss of Black Sea exports – which all depends on the duration and…
World Wheat Markets Surge as Global Trade Flows Disrupted; Duration of Conflict Critical: Global wheat futures rallied to or near limit gains as the future of Black Sea wheat exports in 2021/22 AND 2022/23 are now rather uncertain. Conflict – and Russia’s expulsion from the international financial sector – are expected to persist until the…
World Wheat Markets Gutted in Dramatic Reversal: Global wheat futures gave back most or all of Thursday’s gains. CME old-crop contracts dropped 75-80 cents while KC old-crop lost 75 cents. MGE old-crop was down 59-78 cents. Matiff wheat dropped $27.50 MT, giving back nearly all of the previous day’s gains. However, the Matif nearby contract…
World Wheat Markets Leap As Much as $60-80/MT: Global wheat futures set new highs today, a day on which the world wheat market saw it most serious geopolitical event since the Soviet Wheat Embargo (1980). CME and KC old-crop crontracts were up 40-50 cents, MGE old-crop was up 17-29 cents. Matiff wheat jumped $60 MT…
World Wheat Markets Extend Rally on Signs of Demand Shifting from Black Sea: Global wheat futures ended sharply higher again, with CBOT/KC contracts scoring new contract highs and spot Minneapolis trading above $10 for the first time since late Dec. There’s evidence of at least one vessel being switched from Black Sea to French origin,…
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