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Program: Market Line
Market Line
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Wheat Market Had Little Movement
May wheat managed to close slightly higher on the session Tuesday after spending much of the day in negative territory. Rain in the plains overnight and ideas that the crop may continue to improve helped to spark the early selling pressures.
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Wheat Market Moderately Lower
The turn higher in the other grains and a surge up in equity, gold and crude oil helped to support the bounce off of the early lows on Monday but the wheat market remained moderately lower on the session into the mid-day. Weakness
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Crop Report Boosts Markets
The steep drop in plantings for spring wheat plus ideas that funds needed to exit shorts helped to drive the market sharply higher.
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Aggressive Selling in Wheat Market Ahead of USDA Crop Reports
May wheat collapsed to close sharply lower on the session Thursday as fund traders were active sellers across a wide range of the commodity markets.
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Wheat Closes Sharply Lower
May wheat opened higher and closed sharply lower on the session Wednesday to experience the lowest close since January 20th.
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Corrective Pullback for Wheat Futures
The market followed the other grains higher early in the session Tuesday but talk of the improving crop conditions in the US and ideas that the market may be a bit overbought ahead of the key USDA reports for Friday helped to pressure the market.
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Wheat and Cattle Markets Up
The break in the US dollar and some growing concerns for dryness in Western Europe helped to support a bounce early in the session for wheat. Then fund trader short-covering helped drive the market sharply higher into wheat’s mid-session.
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Wheat Posted Gains on Friday, but Lower for the Week
Wheat gained ground on a lower dollar and built on Thursday’s gains with Wheat futures closed higher on all three exchanges on Friday.
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Markets Under Pressure Due to Weather Concerns
Wheat and corn found renewed buying interest on Thursday after a three day losing streak.
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Wheat and Corn Continue Lower
May wheat closed moderately lower on the session as good weather for the winter wheat crop, continued fund selling and weakness in corn helped to pressure the market to new lows into the close.
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Negative Outside Markets Push Wheat Prices Lower
A stronger US dollar and Chinese economic concerns as well as weakness in metal and energy markets all combined to spark the selling.
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Markets Decline
Wheat futures posted double digit losses at all three exchanges, with selling pressure concentrated in Chicago. World supplies are adequate overall and prices are in balance with demand.
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Wheat Market Has Some Gains
The wheat futures at all three exchanges posted slight to moderate gains. All exchange wheat was up for the week.
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Grains Surge on Export Demand
Thursday was a very positive day in the grains market.
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Wheat and Corn Close Lower
Wheat was lower on a strong dollar, weakness in gold, and talk of improving crop conditions for the winter wheat crop. Ideas that the spring wheat crop growing areas will be ready to plant much earlier than normal added to the negative tone.
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Wheat Market Early Gains Didn't Hold
The market could not hold onto the day’s early gains on Tuesday as improving crop conditions and ideas that the weather outlook for the next two weeks may mean that winter wheat crops will continue to improve helped to pressure the market.
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Wheat and Corn Up Again
Wheat futures were supported throughout Monday by strength in the corn market. Wheat weekly export inspections came in at 31.6 million bushels which was sharply higher than trade expectations.
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Corn and Wheat Rebound
The USDA report for wheat Friday was slightly supportive with the U.S. ending stocks coming in at 825 million bushels as compared to 845 million last month.
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Looking for USDA Report Results
The USDA’s Supply and Demand Report is released this morning and traders expect to see higher exports and lower ending stocks for the US in the update.
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Grain Markets Down
Traders in the wheat market focused on removing risk ahead of USDA’s Supply & Demand Report Friday morning. The report is expected to show plentiful U.S. and global wheat supplies.
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Stiff Headwinds for Wheat Futures
The stock market came under heavy pressure amid economic concerns in China and Europe and the U.S. dollar rallied Tuesday which caused stiff macro-economic headwinds for wheat futures.
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Wheat Continues to Follow
Wheat continued to follow the other grain markets on Monday.
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Markets Continue to Rally & CRP Signup Continues
Corn and wheat ride the soybean wave and USDA offers new CRP signup.
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Wheat Market Lower
Initially wheat futures faced light pressure from the weekly export sales tally that was just above the bottom end of expectations.
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Choppy Session
May wheat closed slightly lower on the session after choppy and two-sided trade.
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Strong Market Prices
Wheat futures began Tuesday morning slightly firmer and continued to build gains throughout the day. The futures were supported again by spillover from corn and soybean futures and the outside markets.
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Wheat Benefits From Spillover Buying
Wheat futures opened under pressure on spillover from negative outside markets, but as soybeans charged higher, wheat benefited from spillover buying.
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Muted Response to USDA Forecast
Wheat is at risk of more near-term price pressure as Black Sea supply concerns have eased and global supplies are ample.
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USDA Acreage Boost Weighs on Wheat Futures
USDA raised its forecast for plantings this year.
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Prices Traded Higher
Prices traded higher in the grain markets on Wednesday.
