Wheat Stays Choppy/Volatile; Snow Inches into Southern Plains: World wheat futures ended sharply lower amid limited fresh fundamental news and as the market grows bored with debating Russia’s potential incursion into Ukraine. Theories over the Black Sea’s end game abound, but no one can know how grain flows from Russia and Ukraine will evolve over…
Wheat Recovers on Rising Global Corn Price; Russia Expands Military Presence Near Ukraine; GASC purchased 420,000 MTs of Wheat from Ukraine, Romania and Russia: World wheat futures ended sharply higher on Friday, with net weekly gains scored in KC/CBT futures. All indications point toward a likely Russian incursion in Ukraine at some point. ARC mentions…
Wheat Extends Correction on US Dollar Strength; Fresh Black Sea News Absent: World wheat futures ended lower for a second day as the US dollar index scored a new 18-month high as traders lose interest in potential disruptions to Black Sea grain flows. Russian/Ukrainian shipments continue as normal, for now, but the risk that vessels…
World Wheat Markets Correct; No Political Sign of Black Sea Resolution: World wheat futures ended sharply lower in a correction. Wheat had rallied nearly $.50/Bu in the past few days, and the market was primed for profit taking. ARC cautions against turning bearish wheat futures below $7.80 spot CBT and $8.00 spot KC. There’s no…
Wheat Extends Rally on Lack of NATO-Russian Resolution: World wheat futures ended sharply higher as there is still no clear end to escalating Black Sea tensions. Whether outright conflict occurs is unknowable, but as highlighted in this evening’s report, the size of exportable supplies at risk is sizable. The market must add premium as German/Baltic…
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