World Wheat Markets Surge on Black Sea Supply Jitters; Plains Wheat Crop Ratings Mixed/Mostly Poor: Global wheat markets ended sharply higher following Putin’s backing of separatists in E Ukraine. Simply put, this suggests odds of Black Sea Sea supply disruptions have increased, and similar to corn, world importers are relying on continued sizable Ukrainian shipments…
World Wheat Futures Steady/Higher on Black Sea Risks; US HRW Crop Threatened by Frigid Temps: Global wheat futures ended sharply higher, with the rally paced by KC contracts. Wheat markets worldwide are adding risk premium on fears of grain flow disruptions – recall outright war is not required but whether insurance companies offer coverage to…
US Wheat Futures Soar on Short Covering; Algerian Demand Supports EU Market: Global wheat futures ended steady to higher, with Egypt/Algeria securing a combined 900,000 MTs of Romanian/optional origin wheat today. There was no specific catalyst for the US rally, as export demand remains rather weak. Yet, ARC estimates that managed funds in Chicago were…
World Wheat Futures Mixed; EU Market Struggles amid weak Export Demand: Global wheat markets were steady to lower, with weakness centered on Paris futures. That market continues to probe for spring/early summer export demand amid building stocks. ARC estimates EU wheat exports in February at 880,000 MTs vs. 2.6 MMTs in February of 2021. Final…
World Wheat Markets Collapse on Russian Troop Downgrade; Geopolitical Risks Stay Elevated: World wheat futures remain plagued by extreme volatilty and the willingness to build new large long positions is in rapid retreat. Russia decreased its military presence in Belaurus by 10,000 troops, but otherwise whether invasion occurs remains unknowable. This week’s action demonstates the…
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