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Wheat Tops One-Week High of $5 Despite Global Supply Glut

Wheat futures are trading at their best levels in a week as the agricultural commodity topped $5. Despite the industry facing a global supply glut, wheat prices are rising higher on an increase in net-long positions and a boost in buying across international markets. But the consensus is that this rally will be short-lived due to immense stockpiles. July wheat futures picked up $0.05, or 1.00%, to $5.0375 per...

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Wheat Dips As Global Supplies Under Spotlight

Wheat futures are slipping on Tuesday as global supplies come into focus. Since peaking at $5.80 at the end of March, the agricultural commodity has been steadily falling and could test $5 by the summer. Investors’ eyes will be on the closely watched US government report that is anticipated to forecast ample supplies of corn, soybeans, and wheat. July wheat futures tumbled $0.0425, or 0.82%, to $5.13 per...

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Wheat Settles Lower As Russian Export Cap Comes Into Focus

Wheat futures settled more than 1% lower to kick off the trading week as Russia’s exports come into focus. Despite a temporary boost late last month on widespread panic-buying, wheat has been trading in red territory for most of the year. Where will the agricultural commodity go from here? July wheat futures tumbled $0.0675, or 1.27%, to $5.2375 per bushel at 14:19 GMT on Monday on the Chicago Board of Trade...

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Wheat Slumps to Lowest Level of 2020 As USDA Predicts ‘Stable Supplies’

Wheat futures are on track for their worst finish of the year as the US government released its outlook for the current marketing year and projected “stable supplies.” US wheat exports have been mixed this month as shipments are down for the 2019–2020 season, but sales are up for the 2020–2021 season. The agricultural commodity has had a rough start to the year, and analysts are not...

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Russia dominates global wheat trade. Will its exports continue to grow?

Over the past two decades Russia has managed to move from a net importer of wheat to a net exporter, displacing the EU to become the largest exporter in the 2016-17 marketing season, and continuing to lead since. Increasing planted area and higher quality of the grain produced ought to support exports. But from January the start of the IMO 2020 regime for marine fuels could be an obstacle, pushing up freight costs and threatening Russia’s recent gains in Southeast Asia, even as other...

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Wheat Slumps As CN Rail Reaches Tentative Agreement With Union

Wheat futures are retreating from one-month highs on Tuesday after it was announced that the union representing Canadian National Railway reached a tentative agreement with the company. The week-long strike has impacted many of Canada’s key exports, including crude oil and wheat. There were concerns that the disruption would hurt Canadian farmers and trim economic growth numbers. December wheat futures tumbled $0.0575, or 1.08%, to $5.2725 per bushel at 14:31 GMT...

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Wheat Futures Retreat From Rally Driven by Cold Snap

Wheat futures are retreating from their recent rally, despite many parts of the US, including the important Midwest, still facing harsh conditions from the winter weather. With a cold spell impacting wheat-growing areas of the US Plains, financial markets are concerned that the low temperatures will threaten crops. Wheat prices were further lifted on improved export inspections by the US government. December wheat futures tumbled $0.04,...

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Wheat Rises on China Buying US Agriculture, Global Output Slump

Wheat futures are rising to finish the trading week, driven by new data that found China purchased huge volumes of US agriculture, including wheat, soybeans, and pork. Other global industry factors are contributing to wheat’s performance in recent trading sessions, mainly from a supply-side perspective. December wheat futures rose $0.0225, or 0.46%, to $4.9525 per bushel at 12:41 GMT on Friday on the Chicago Board...

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Wheat Poised for Weekly Slump As Supply, Demand in Focus

Wheat futures are on track for a weekly decline as investors are concentrating on the latest supply and demand data from key markets. The slump in wheat prices comes as the US and Japan reached a tentative trade deal that would open up Tokyo’s agricultural sector to American goods, including corn and wheat. December wheat futures fell $0.0575, or 1.22%, to $4.67 per bushel at 12:47 GMT on Friday...

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Wheat Edges Up on Flurry of Industry Activity

Wheat futures finished the Wednesday trading session in positive territory, somewhat rebounding from the downward trend that has plagued the agricultural commodity for much of the year. Wheat prices posted tepid gains on a flurry of industry activity, but investors might be more concerned about President Donald Trump’s recent remarks about US wheat. September wheat futures tacked on $0.03, or 0.64%, to $4.75 per bushel...

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