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US grain futures fell again on January 30, with CBOT wheat down 5 cents, corn down 2 cents and soybeans down 4 cents, while the trade awaited upcoming USDA data. Egypt's GASC booked six cargoes of mid-March wheat, three French and three Romanian, after Russian offers were priced slightly higher.
Soft Red Winter wheat was offered at a very high basis, which limited its competitiveness.
US wheat and corn are losing competitiveness in export tenders at elevated basis levels, which weighs on US futures unless export demand firms. Pending USDA data adds near-term uncertainty.
graincentral.comGuest AuthorJan 29, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
