Wheat prices lift on lack of grain corridor compromise. Grain futures were higher overnight, led by the wheat market. Russia rejected the UN’s negotiations to allow grain export corridors through Odessa and Belarus to move Ukrainian grain to lessen the international food crisis. Also, less than ideal weather for the EU, Chinese, Brazilian, and Canada…
Cattle On Feed On Feed: 102% vs 101.5% estimate Placed: 99% vs 96.5% estimate Marketed: 98% vs 97.9% estimate Data is slightly negative to pre report estimates, cattle look to be called softer with support coming from already experiencing heavy selling for the week prior to the report
Wheat prices return to last Friday’s values. Grain futures again found selling for the third day across the board overnight in wheat and corn, as liquidation continues from the spike high in the Tuesday session to new contract highs for the hard wheats. The lack of export interest for wheat and corn at this past…
Risk-off continued overnight with equity and energy. After a firm start overnight, corn and wheat prices move lower to sharply lower overnight following the long liquidation and risk-off attitude of the stock market and energy markets. Also, there is the discussion of UN efforts to restart grain exports out of Ukraine. Still, in the talks,…
Wheat futures correct overnight. Wheat futures corrected in price overnight, as India further opened up the possibility of shipping wheat to neighboring countries such as Bangladesh and Pakistan. This has some in the trade wondering what the ban really implies, other than it doesn’t want to sell wheat to the world, just to neighbors. Even…
Spec Trade: Sell 2 July Mini-wheat at the MKT, 1280 last with a 1322 stop.
India wavering promotes Turn-around Tuesday. After the initial higher start in wheat, grain futures pushed lower in the night session as turnaround Tuesday came into force. Overnight, India stated it would allow the 500,000 metric tons of wheat requested by Egypt to be shipped and other contracts initiated before May 13. This brought a round…
Wheat leads overnight price strength. Grain futures opened sharply higher Sunday evening as anticipated on the Indian wheat export ban, with wheat futures briefly touching limit gains before retreating. Paris French milling wheat is up $17 a ton this morning, which is the equivalency of $0.50, reflecting the gains of Kansas City and Chicago in…
