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feed-grains soy-oilseeds wheat

Market Commentary

General Comments It has been rare for wheat to be the futures market leader recently, but that is exactly what happened today. After five straight losing days, wheat bounced in a big way. The wheat market was due for some sort of a rebound, but the catalyst that put CME wheat up 30 cents at the close was news that Russia's Food Security Council would be meeting Friday to discuss the wheat crop and, presumably, related topics such as the pace of exports and domestic prices. Twice before when the Council met, it surprised by releasing rather bleak assessments of Russian grain production. Earlier this month it estimated that total Russian grain production would be no more than 75 MMT. USDA estimated the Russian wheat crop had fallen to 43 M...

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Black Sea Regional Analysis

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