Teucrium Wheat Fund (WEAT)

[realfast95]

Wheat Futures Market News and Commentary
Wheats Firm to Close Mixed
Barchart - Wed May 25, 4:34PM CDT

After sharp losses through midday, the wheat market ended Wednesday well off the lows. Spring wheat prices closed black on the day, with the board 3 1/4 to 4 3/4 cents higher at the bell after being down by nearly 40 cents earlier. CBT SRW ended Wednesday down by 6 1/2 to 10 1/4 cents. KC wheats also bounced back from the earlier weakness to close the day 1 1/2 to 4 1/2 cents in the red.

Going into the weekly Export Sales report analysts expect old crop wheat business was between 50k MT of net cancelations and 100k MT of net new sales from the week that ended 5/19. New crop wheat sales are estimated between 100,000 MT and 400,000 MT.

Social media reports suggest Russia is willing to open up humanitarian corridors through the Black Sea Blockade for Ukrainian food and grain exports by sea, in exchange for reduced sanctions by NATO allies. Terms under which this would be allowed are not yet public.

https://www.barchart.com/futures/quotes/ZWN22/overview