CNS Canada — Spring wheat futures in Minneapolis climbed to their highest levels in nearly two years during the week ended Friday, as weather concerns in major U.S. wheat-growing states provided support. The nearby July contract on Thursday hit a session high of US$6.1775 per bushel, the strongest level for the front-month spring wheat contract […] Read more
Spring wheat futures climb to two-year highs
U.S. grains: Corn nears one-year high on adverse weather
Chicago | Reuters — U.S. spot corn futures hit a near one-year high on Wednesday on forecasts for potentially stressful crop weather in the Midwest, while Minneapolis spring wheat futures retreated from a near two-year high. Soybeans followed corn higher. The weather jitters come as commodity funds hold large net short positions in corn, wheat […] Read more
U.S. grains: Spring wheat climbs on dry weather worries
Chicago | Reuters — Chicago wheat futures rose about 1.5 per cent Tuesday and Minneapolis spring wheat traded above US$6 a bushel for the first time in nearly two years on deteriorating spring wheat ratings amid hot and dry weather in the northern U.S. Plains, analysts said. Corn futures neared a three-month high and soybeans […] Read more
U.S. grains: Spring wheat futures climb on weather worries
Chicago | Reuters — U.S. spring wheat futures traded on the Minneapolis Grain Exchange (MGEX) closed higher on Monday for a fourth straight session on fears of hot, dry weather in the northern Plains, while corn and soybean futures ended fractionally higher. MGEX July spring wheat ended up 5-1/4 cents at $5.89 per bushel and […] Read more
U.S. grains: Minneapolis wheat surges on northern Plains dryness
Chicago | Reuters — U.S. spring wheat futures set a 5-1/2-month high on Friday, buoyed by expanding dryness in the northern Plains production belt, analysts said. Minneapolis Grain Exchange July spring wheat settled up five cents at $5.83-3/4 per bushel after reaching $5.90, the highest spot price since mid-January (all figures US$). The spot contract […] Read more
Early U.S. winter wheat harvest supports low-protein fears
Chicago | Reuters — The earliest reports from the start of the U.S. hard red winter wheat harvest underscored industry fears of a second straight year of low protein, a factor that shifts the market’s focus to prospects for the North American spring wheat crop, a higher-protein variety. “It’s probably a foregone conclusion at this […] Read more
MGEX spring wheat premium widening over winter wheat
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
Demand for quality is pushing up hard red spring prices
Look for ‘basis specials’ when grain buyers need to blend better-quality wheat to meet sale specifications
Reading Time: 2 minutes Despite generally low wheat prices, the hard red spring wheat market is showing some positive price action, says a provincial crop market analyst. “At least two things are happening in this market,” said Neil Blue. “Back in August, some commercial buyers began to increase their bids for wheat protein. This was a reflection of the […] Read more
MGEX spring wheat futures pull away from winter wheat
CNS Canada — Minneapolis spring wheat futures are pulling away from their winter wheat counterparts, as quality issues with the North American spring wheat crop bring in protein premiums, according to an analyst who said there was more room to the upside in spring wheat. Kansas City and Chicago winter wheat contracts hit 10-year lows […] Read more
MGEX spring wheat shows strength
CNS Canada — Minneapolis (MGEX) spring wheat futures have climbed back to their highest levels in two months and could remain strong relative to other wheat classes over the next few months, according to an analyst. The nearby July 2016 contract is trading at about US$5.50 per bushel, while the July 2017 contract is now […] Read more
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