Technical buying and new year fund buying are predicted to give row crop and wheat futures a lift.Still many economic unknowns continue to fly in the marketplace. Budgets, expenditures and risk levels, all up for review.Marketers find it challenging to accurately rate short-term volatility and prioritize technical and fundamental drivers.
Japan's Ministry of Agriculture is in this week to buy a total 127,000 Mt of milling wheat from the US and Canada. All shipments are set for March loading: 33,000 Mt of max 10.5 % WWW; 26,000 Mt of 11.5% HRW, 47,000 Mt of 14% DNS; and 21,000 Mt of 13.5% Canadian WRS.
The ongoing Pakistani tender appears to have a few'technical glitches', as quality specs are reexamined/modified. Sixteen vessels in the CRD and three are loading grain.
Wednesday will bring snowy and windy weather to the northwestern Plains and Great Lakes. Dry conditions will prevail elsewhere in the corn and wheat belts through the Delta for midweek. » More DTN Weather Commentary
