US Wheat Futures Follow Corn Higher; More Attention Paid to US Weather March 1st Onward: World wheat futures ended steady to higher on Monday as global corn values became concerned about South American corn supplies. Either wheat sustains a large premium to corn or global wheat export potential surges during the summer months. Both are…
World Wheat Markets Rise; No Sign of Needed Weather Pattern Changes in US Plains/North Africa: US wheat futures ended 8-19 cents higher, led by KC. There was no particular catalyst for the move, but EU origin wheat was undervalued amid steady Black Sea fob offers. Additionally, the attached graphic shows that interior wheat prices in…
EU Market Probes for Demand; US Futures Scoring Intermediate Bottom: US wheat futures ended steady to lower, with strength noted in KC. Spot Paris milling wheat fell to a new 4-month low settlement. EU export demand has been sluggish since the arrival of new Southern Hemisphere crops and that market is now looking for at…
World Wheat Markets Slide; Black Sea News Lacking: US and European wheat futures ended sharply lower. Wheat’s primary issue remains the lack of market-specific news, and while the risk of Black Sea supply dislocation remains intact, an escalation of Russian activity is not anticipated until after the Olympics. Cash markets worldwide have been dull. Enthusiasm…
World Wheat Market Ends Higher; Fresh Input Lacking: World futures recovered as Europe’s cash market appears cheap when compared to Russian origin. Complete dryness will linger in North Africa for another two weeks. This is a concern. But we doubt markets will start to pay much attention to new-crop issues until early/mid-March. Otherwise, wheat specific…
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