Cash markets today are just a repeat of recent days; growers are selling on the rally and there is no export or domestic demand for the nearby. Exporters, resellers and domestic mills are supporting the deferred cash markets, but everyone is plugged for August. There is not bid for August HRW trains at the gulf…
Tag Archives: 2018
2018-19 US HRW Protein Test Results
The latest HRW protein update shows northern Colorado averaging 11.8%, southwest Nebraska averaging 12.99%, and southeast Nebraska averaging 14.0% protein.
July 10, 2018
Resellers/mills are saying it is easier to buy wheat from shippers this week & cash markets are starting to see a few more offers in the winter wheat markets. A few shippers are starting to think about making space as they finish harvest. This isn’t a lot of wheat, but since there isn’t a lot…
The latest U.S. Drought Monitor indicated 33% of winter wheat production and 27% of spring wheat production is in an area impacted by drought. Source: http://droughtmonitor.unl.edu/CurrentMap.aspx
May 23, 2018
It’s rare to have the cash market and the futures market so strong, when in fact there is no demand. This is acting like a demand pull market, when it is all about supply. The US is rationing demand faster than it may be losing supply. Today’s headlines were: India increases the wheat import tariff…
April 19, 2018
Freight & logistics continue to be the driver for old crop cash wheat with buyers hitting the limited number of bids at the gulf for HRW. Domestic HRW basis closed up 1-4 c/bu today. The SRW barge market came off an 8 ct/bu today in old crop on weaker barge freight & new crop J/J…
April 10, 2018
The cash markets were dead with HRW traders making their way to the Kansas Grain Convention in Wichita & trying to determine the amount of damage/loss from this weekends’ freeze & lack of moisture. The gulf market was not spoken but the Kansas City domestic market closed up 10 ct/bu on 11.4-11.6% protein. SRW was…
April 3, 2018
Today’s futures rally is not buying us any export business, but Russia wheat was up $3-$4/mt today & Matif was up $3-$4/mt as well, so no real damage. The cash markets were mixed as traders were cutting their HRW production estimates after USDA’s crop condition ratings yesterday PM, the gulf traded up 5+ ct/bu on…
