IKAR in Mass Media

Fifty Cent Loss Seen In Wheat

08 ноября 2022 года

A Reuters piece showed Russia has re-entered the grain exporting deal – “The Russian Federation considers the guarantees received at the moment appear sufficient, and resumes the implementation of the agreement” – Russian Defense Ministry citing 10 guarantees from Ukraine. The original deal was set to expire on November 19th. Wheat responded with a 50 cent loss in December SRW. The other front months are down 30 to 42 cents across all classes.

CBT SRW ended Tuesday the strongest with 1.6% to 2.3% gains. WTD Dec SRW has rallied 8.8%, and is back above the $9 mark for the close for the first time since 10/11. KC HRW futures ended the session with 0.99% to 1.26% gains in the front months. MPLS spring wheat prices settled Tuesday 0.87% to 0.96% higher.

IKAR estimated the Russian 22/23 wheat crop at 101 MMT with 50 MMT of exportable supply.

Buenos Aries Grains Exchange left their Argentine wheat forecast for 22/23 wheat at 15.2 MMT. Argentina is set to permit delayed wheat exports on contract citing the drought concerns.

Dec 22 CBOT Wheat closed at $9.02 1/2, up 20 1/4 cents, currently down 50 1/2 cents
Mar 23 CBOT Wheat closed at $9.19, up 19 3/4 cents, currently down 46 cents
Cash SRW Wheat was $8.33 1/8 on Tuesday, up 18 1/8 cents,
Dec 22 KCBT Wheat closed at $9.90, up 11 1/4 cents, currently down 39 3/4 cents
Cash HRW Wheat was $9.48 7/8 on Tuesday, up 11 cents,
Dec 22 MGEX Wheat closed at $9.89 3/4, up 8 1/2 cents, currently down 33 1/4 cents

https://barchart.com/

Source: barchart.com | #grain | Comments: 0 Views: 13

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