MED-Amin network
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MED-Amin network
(Mediterranean Agricultural Information Network) Fostering cooperation and experience sharing among the national information systems on agricultural (cereals) markets in the Mediterranean. The network of 13 countries is coordinated by CIHEAM, and more specifically by its Mediterranean Agronomic Institute (MAI) of Montpellier.
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CBOT wheat futures higher on US sale to Egypt

CBOT wheat futures higher on US sale to Egypt | MED-Amin network | Scoop.it

By Reuters, 28/11/2018

Chicago Board of Trade wheat futures closed higher on Monday as geopolitical tension in the Black Sea region and confirmation of US wheat sales to Egypt sparked a round of short-covering, traders said. CBOT December soft red winter wheat settled up 7-3/4 cents at $5.07-1/2 per bushel. K.C. December hard red winter wheat ended up 3-1/4 cents at $4.64-1/2 a bushel and MGEX December spring wheat rose 2-3/4 cents at $5.77. The US Department of Agriculture confirmed that private exporters sold 120,000 tonnes of US soft red winter wheat to Egypt for delivery in the 2018/19 marketing year. Escalating tension between Russia and Ukraine could slow grain exports from the Black Sea region, analysts said. Russia ignored Western calls to release three Ukrainian naval ships it had fired on and captured near Crimea over the weekend. The USDA reported export inspections of US wheat in the latest week at 252,489 tonnes, below a range of trade expectations for 350,000 to 600,000 tonnes. Ahead of the

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A shaking world wheat market

A shaking world wheat market | MED-Amin network | Scoop.it

By Chris Lyddon (World Grain), 12/11/2018

In its Agri Commodities Monthly Report for October, Rabobank noted short-term support for wheat futures worldwide on the basis of tightening global fundamentals. “This support is forecast until further confidence emerges with respect to new 2019-20 crop supplies,” Rabobank said, noting that Northern Hemisphere plantings were nearing completion as it was published on Oct. 19. Rabobank called the record Russian export pace, with 13.8 million tonnes exported from July to September, “unsustainable.” “As Russian exports slow or are potentially restricted, demand would predominantly shift to the U.S., Argentina or even the E.U.,” Rabobank said.

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Wheat Prices Finding Their Footing?

Wheat Prices Finding Their Footing? | MED-Amin network | Scoop.it

By Brennan Turner (Farm Lead), 26/11/2018

Only Wheat prices are in the green this morning for grain prices thanks to some follow-on buying that U.S. wheat is getting more competitive.

Specifically, Egypt bought 240,000 MT of wheat last week, with half of it coming from American ports. It’s been suggested that Egypt may turn away from Russia as its principal wheat supplier as their amount of exportable supplies start to slow, but also there are questions about the quality coming out of their facilities.

The bigger news coming out of the Black Sea this Monday though is Russia having fired upon and then captured three Ukrainian warships off the coast of Crimea, the annexed region that Russia took control of a few years ago. As it relates to grain markets, there are questions about whether or not grain exports in the Azov Sea (where the naval clash took place) will be impacted. Reports are that its business as usual right now. It’s expected that Ukraine will vote today on whether to impose martial law or not. Should wheat exports indeed be impacted, this could be a quality opportunity for wheat prices to find its footing again.

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Wheat futures advance, equity markets tumble

Wheat futures advance, equity markets tumble | MED-Amin network | Scoop.it

By Foodbusinessnews.net, 13/11/2018.

After Australia's winter wheat production estimates were cut, the U.S. wheat complex moved higher Monday with corn and the soy complex posting small gains and losses. Chicago December wheat added 17¾c to close at $5.19¾ a bu. Kansas City December wheat added 6c to close at $4.93½ a bu, and Minneapolis December wheat advanced 9¼c to close at $5.82½ a bu. December corn was up 1½c to settle at $3.71¼ a bu.

Anxiety over the health of giant technology companies sparked a broad retreat from U.S. equity markets Monday. 

U.S. crude oil futures edged Monday with contract shed 26c to close at $59.93 per barrel. The U.S. dollar is strengthening on Monday.

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