Wheat Prices Firm Amid Export Demand – Positioning Ahead of U.S. Holiday
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CBOT wheat contracts edged higher on Thursday, while Euronext futures remained stable. U.S. traders positioned ahead of the
Memorial Day holiday, and ongoing export strength helped maintain buying interest. European prices held steady, despite recent gains.
📈 Price Overview
🔍 Key Market Drivers
- 📦 U.S. Export Sales Support Prices:Strong interest from North Africa and Southeast Asia, according to shipping reports.
- 🇺🇸 Memorial Day Positioning:Traders squared positions ahead of the long weekend, supporting CBOT volume.
- 🌱 Crop Conditions:Good weather in the U.S. Plains continues to benefit the winter wheat crop.Dryness remains an issue in parts of Russia and Ukraine, providing fundamental support.
- 🇪🇺 Stable EU Outlook:No major changes in Euronext fundamentals.Traders await updated harvest estimates in France, Germany, and Romania.
☁️ 14-Day Weather Trend
🌍 Wheat Market Snapshot
💡 Trading Recommendations
- 🟢 Watch U.S. wheat for further upside on technical buying
- ⚠️ Monitor Russian & Ukrainian conditions for possible upside catalysts
- 🔍 EU traders advised to track French harvest surveys in the coming weeks
🔮 3-Day Forecast (May 24–27)
