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Where the margin is 2023

Where the margin is 2023
February 9-10, 2023, Moscow

 

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.

Fifty Cent Loss Seen In Wheat

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: 5


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