World Wheat Markets Continue to Add Premium; US Crop Rating Disappoints; Black Sea Dryness Building: European and KC contracts scored newer contract highs on Monday. An early morning rally struggle amid growing chatter that a host of importers will find financing future purchases difficult, but the long-term structural makeup of the market remains bullish. Importers…
World Wheat Markets Soar on Need to Slow Consumption; Importer Demand Intact: US, European and Black Sea futures ended sharply higher on Friday, with new contract or multi-year highs scored in KC, Minneapolis and Paris milling wheat futures. The market must assess whether importers opt to cover winter supply needs at current prices, but AgResource’s…
World Wheat Market Corrects on Profit Taking; US Export Demand Retreats: US, European and Black Sea futures ended lower on Thursday amid strength in the US dollar, weakness in energy market and an otherwise lack of market-specific news. The pace of US export sales remains on pace to hit the USDA’s target, but hefty spot…
EU Wheat Sets New Contract High; Other Markets Follow: World wheat futures ended sharply higher on Wednesday, with global cash markets following. Recent evidence to suggest Mid-East is underestimated is noted, while newswires today report of significant delays to new crop seeding progress in China. Wheat’s fundamental outlook remains bullish, and the market will continue…
Wheat Stays Firm; More Evidence Suggests Mid-East Import Demand Understated: US wheat futures ended 1-7 cents higher, led by spot Minneapolis, amid steady/higher world cash market and as additional cuts to exporter stocks lie ahead. ARC also suspects Canadian production is still overstated but on recent meaningful strength in spring wheat and canola markets. The…
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