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Morning Wire
Corn rallies a little overnight, Chicago wheat continues to be strong compared to US hard wheats.
So much for yesterdays wheat rally. Overnight new recent lows for spring wheat, tests of lows for KC wheat. Macros on the move however this AM after CPI number was unexpected.
9th consecutive lower wheat day for Chicago wheat overnight, first time since July 2015.
Turkey halts wheat imports June 21-Oct 15 to protect domestic harvest prices, wheat futures fall further.
A light bounce overnight on little news
A quiet overnight session as ag markets digest poor Black Sea weather vs good US weather, recent world wheat demand despite high prices, and fund rolls.
A little lower overnight in US ag futures, Egyptian wheat tender finds high Russian offers at $285.00
A late AM overnight wheat doubling of gains takes WN4 to dangerous technical levels for the AM opening.
Corn rallies a little overnight, Chicago wheat continues to be strong compared to US hard wheats.
So much for yesterdays wheat rally. Overnight new recent lows for spring wheat, tests of lows for KC wheat. Macros on the move however this AM after CPI number was unexpected.
9th consecutive lower wheat day for Chicago wheat overnight, first time since July 2015.
Turkey halts wheat imports June 21-Oct 15 to protect domestic harvest prices, wheat futures fall further.
A light bounce overnight on little news
A quiet overnight session as ag markets digest poor Black Sea weather vs good US weather, recent world wheat demand despite high prices, and fund rolls.
A little lower overnight in US ag futures, Egyptian wheat tender finds high Russian offers at $285.00
A late AM overnight wheat doubling of gains takes WN4 to dangerous technical levels for the AM opening.
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