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Morning Wire
A rangebound night other than Matif wheat making new daily chart contract highs. US macros are starting to come unglued however. USDA crop report today.
MGE wheat overnight almost back to Mondays post-2008 highs, the rest of US and world ags slightly higher awaiting tomorrows crop reports.
Marginally higher US ags overnight, world ags mixed, minor macro recovery. All a big nothing, next big thing is Thursdays USDA crop reports.
World wheat futures higher on poor EU/US wheat weather, world row crop futures generally lower on poor world macros and better US central plains weather expectations for planting.
Ag futures early break, late rally. US weather now favors row crop plantings after a drydown occurs but continues to put heavy rain into N American spring wheat areas
Macro risk on and wheat led rallies off the Feds expected action and disturbing thoughts about Indian wheat production.
A choppy overnight trade. Bad crop progress/conditions met with skepticism is concerning to us.
Unexpectedly heavy western rains in the southern plains over the weekend. Otherwise continued concerns. US progress reports this afternoon are highly anticipated.
A rangebound night other than Matif wheat making new daily chart contract highs. US macros are starting to come unglued however. USDA crop report today.
MGE wheat overnight almost back to Mondays post-2008 highs, the rest of US and world ags slightly higher awaiting tomorrows crop reports.
Marginally higher US ags overnight, world ags mixed, minor macro recovery. All a big nothing, next big thing is Thursdays USDA crop reports.
World wheat futures higher on poor EU/US wheat weather, world row crop futures generally lower on poor world macros and better US central plains weather expectations for planting.
Ag futures early break, late rally. US weather now favors row crop plantings after a drydown occurs but continues to put heavy rain into N American spring wheat areas
Macro risk on and wheat led rallies off the Feds expected action and disturbing thoughts about Indian wheat production.
A choppy overnight trade. Bad crop progress/conditions met with skepticism is concerning to us.
Unexpectedly heavy western rains in the southern plains over the weekend. Otherwise continued concerns. US progress reports this afternoon are highly anticipated.
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