Wheat Report, 07/19/2016

Tuesday, July 19, 2016

The wheat market moved higher on Monday due to funds having a near-record net short in Chicago, concerns related to the world crop conditions. Egypt purchased 300 TMT of wheat over the weekend for Aug. 21-30 shipment from Romania and Russia, at an average price of $175/MT C&F, which was slightly above the previous purchase but they bought volume this round. The French crop is the center of concern for the EU crop, as TW is low and yields are reported to be shrinking daily. Winter wheat harvest advanced to 76% complete through the weekend, as the southern tier is mostly complete and the rest of the progress will be NE, SD and toward the PNW. The KC spot rail market is showing how plugged mills are of 11 pro stocks and are not looking for more on the front-end, with similar thoughts of low-12s, while high 12 to 13 pro is still showing favor. Grains have turned lower, led by corn and soybeans seeing better crop conditions and mostly favorable weather.

Unless otherwise noted, the posts on this blog should be construed as market commentary, merely observing economic, political and/or market conditions, and not intended to refer to any particular trading strategy, promotional element or quality of service provided by INTL FCStone Inc. or its subsidiaries. INTL FCStone Inc. is not responsible for any trading decisions taken by persons viewing this material. Information contained herein was obtained from sources believed to be reliable, but is not guaranteed as to its accuracy. These materials represent the opinions and viewpoints of the author, and do not necessarily reflect the viewpoints and trading strategies employed by INTL FCStone Inc. or its subsidiaries. Reproduction without authorization is prohibited. All rights reserved.

Market Intelligence Free Trial

Meet the Team

Kansas City, MO
1251 NW Briarcliff Parkway
Suite 800
Kansas City, MO 64116
Tel:+1 (816) 410-5079



Our privacy policy has changed. View our privacy policy to learn more.