Alpari Grain Outlook 01/08

By
A A A

Monday began with our weekly export inspections report showing 13.3 million bushels of wheat was inspected by the USDA for near-term export, up from 7.7 the week prior and equal our weak four week average. It's still a bearish demand signal. The US is fairly valued compared to our competitors but two issues exist that are keeping us demand-side bearish also India has surfaced with access wheat for sale attracting Middle East business. One, we still have too much wheat in reserve at 754 m.b. To be tight, we need ending stocks under 500 m.b. and weekly inspections need to be over 28 m.b. weekly to be price bullish. And two, Middle Eastern countries like Egypt continue to purchase else where only throwing marginal business to the US. We have fallen on a political favor with the wheat needy Middle East. Egypt, the world's biggest monthly wheat buyer used to be a huge US trading partner.

Read More on International Business Times



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Commodities

Referenced Stocks:

International Business Times

International Business Times
  • See all for International Business Times
  • View Print Version

More from International Business Times:

Related Videos

How to Save Money at Bars
How to Save Money at Bars           

Stocks

Referenced

Most Active by Volume

44,823,339
  • $75.19 ▲ 0.28%
43,744,171
  • $3.44 ▼ 0.29%
42,340,022
  • $97.671 ▲ 0.66%
34,178,145
  • $17.62 ▼ 1.23%
34,028,998
  • $15.59 ▼ 0.19%
32,055,708
  • $21.23 ▼ 2.41%
31,539,235
  • $3.76 ▲ 0.80%
30,434,619
    $34.25 unch
As of 7/25/2014, 04:03 PM