Wheat Report, 09/07/2016

Wednesday, September 7, 2016

The wheat market could not overcome weakness yesterday from the global stockpiles and pressure coming out of the long weekend. Export inspections totaled 639 TMT last week, which is the highest weekly total in the last five weeks, but was not enough to strengthen trade. HRW led the way with 284 TMT, with Brazil and China slated as the largest destinations. Stats Canada showed a sharp decline in wheat stocks on July 31 at 5.17 MMT, down 28% from LY, but well-above estimates. The KC spot market continues to see bids rise from 11.0 to 12.0 pro cars, with mills showing commitment to focusing on HRW and trying to avoid spreads getting out of whack. Negative economic indicators took the USD lower, as expectations of a rate increase grow slim. Look for grains to follow soybeans higher this morning, as the wheat market returns to sideways trading.

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.