Wheat Report, 11/17/2016

Thursday, November 17, 2016

The strength in the USD over the last few sessions has put pressure on the wheat markets and other grains, while KC and Chicago futures hang in a sideways pattern near recent lows. Algeria bought 580 TMT of optional-origin wheat for Jan. shipment, with expected origins of U.S., Germany, and Baltic, but we won’t know until it ships. Ukraine’s export capacity is expected to almost triple by 2020 to 157 MMT, as 36 new facilities are planned in the next four years. Weekly export sales totaled 598 TMT, at the top of estimates, with a good balance of HRW, HRS and white wheat. The USD remains near 13-year highs, but is taking a breather from gains this morning about 100. Crude Oil is slightly firmer and equities are mixed this morning, on light news. Look for wheat to chop sideways, with focus on the expanding Plains drought that could be meaningless in three months and adequate world stockpiles.

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.