Reading Time: 2 minutes Chicago | Reuters — U.S. hard red winter wheat futures fell to near two-month lows on Wednesday on forecasts of another round of beneficial showers next week in the southern Plains that could boost crop prospects, analysts said. Chicago Board of Trade soft red winter wheat rallied late in the session to end higher, while […] Read more
U.S. grains: Wetter forecasts pressure K.C. wheat
Prairie wheat bids mixed while U.S. futures rise
Reading Time: 2 minutes CNS Canada — Wheat bids in Western Canada were mixed for the week ended Thursday, while U.S. wheat futures rose. Depending on the location, average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were mixed in Western Canada with some unchanged and others rising by $1-$2, according to price quotes from a […] Read more
U.S. grains: Winter wheat jumps as crop conditions drop
Reading Time: 2 minutes Chicago | Reuters — U.S. winter wheat futures surged to their highest in at least four months on Tuesday, led by a more than three per cent rally in hard red winter wheat, after the government slashed condition ratings for the drought-hit U.S. Plains crop. Soybeans and corn also advanced on technical buying and short […] Read more
U.S. grains: Winter wheat hits two-week lows, spring wheat rallies
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade soft red winter wheat futures and K.C. hard red winter futures dropped to two-week lows on Thursday as forecasts for dry conditions in key growing areas raised the prospect of a quick start to harvest for both crops. “We have got a little bit drier forecast,” said […] Read more
U.S. grains: Soybeans fall on oil drop
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures fell to a 1-1/2-month low on Thursday, pressured by a sharp drop in crude oil prices, traders said. Corn futures also weakened, with investors beating down early rally attempts due to ample global supplies and signs of poor export demand. Wheat futures were mixed, with K.C. hard red […] Read more
MGEX spring wheat premium widening over winter wheat
Reading Time: < 1 minute CNS Canada –– Concerns over poor-quality North American wheat crops have seen the Minneapolis spring wheat premium widen over Kansas City winter wheat — and that spread could grow even larger heading into the summer, according to a U.S. analyst. The nearby MGEX spring wheat contract settled up 3.75 cents on Wednesday, while the corresponding […] Read more
Weather woes buoy U.S. wheat futures
Reading Time: 2 minutes CNS Canada — Wheat futures in the U.S. kicked off the week on a high note, following a weekend of adverse weather in key growing regions. That may provide a short-lived boost to cash prices in Canada, though the market has its own weather watch. Chicago Board of Trade wheat futures on Monday advanced close […] Read more
U.S. grains: CBOT wheat futures weaken
Reading Time: 2 minutes Chicago | Reuters — Chicago Board of Trade wheat futures eased on Tuesday, partially retreating from a sharp rally on some profit-taking, traders said. But K.C. hard red winter wheat futures firmed, extending their rally amid concerns that a snowstorm in the U.S. Plains during the weekend caused severe damage to the maturing crop there. […] Read more
Tight high-protein supplies underpin Minneapolis wheat
Reading Time: 2 minutes CNS Canada — Spring wheat futures in Minneapolis are outpacing the Chicago and Kansas City winter wheats to the upside, and tight world supplies of higher-protein wheat should remain supportive until the 2017 North American crop becomes better known. “A lot of it is the protein market,” said analyst Bryan Strommen of Progressive Ag in […] Read more
Weaker loonie underpins Prairie wheat bids
Reading Time: 2 minutes CNS Canada — Cash spring wheat and durum bids in Western Canada moved higher during the week ended Monday, as weakness in the Canadian dollar helped underpin basis levels. Depending on the location, average Canada Western Red Spring (CWRS) wheat prices were up $1-$5 per tonne compared to the previous week. Average prices ranged from […] Read more
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