Wheat Futures Return to Weaker Ways

Jul 12, 2022

After a strong rebound at the end of last week, wheat futures went back to their losing ways on Monday.

Fresh highs for the US dollar, which makes American supplies appear more expensive to foreign buyers, weighed on wheat today, as did continued concerns about the possibility of a recession which could hurt demand. News that China could again be locking down certain areas of the country due to rising covid cases also weighed on markets in general. September Chicago wheat dropped 35 cents to $8.56 ½, September Kansas City lost 30 ½ cents to $9.15 ¼ and September Minneapolis closed down 28 cents at $9.63 ¾.

Corn managed small gains after posting stronger advances during the overnight session. Forecasts for mostly warm and dry Midwest weather, especially for the end of the month, initially powered the market higher. However, a sharp reversal lower in the wheat market and some forecasters adding rain chances was enough to pressure gains from earlier in the session, the CME market commentary said. September was up 3 ¾ cents at $6.37 and December added 5 ½ cents to $6.29.

The warm, dry forecasts boosted soybeans, although the market also faded from stronger earlier gains. August soybeans gained 8 ¾ cents to $15.22 and November was 8 ½ cents higher at $14.05.

Click here to see more...

Video: Fendt Testimonial | Fendt 726 Vario Gen7 | Peter Watson Jones Ltd.

What happens when a farm buys its first Fendt? For Peter Watson Jones Ltd, the Fendt 726 Vario Gen7 has exceeded expectations from day one. For Jack, Farm Manager at Peter Watson Jones Ltd in North Shropshire, UK, the Fendt 726 Vario Gen7 wasn't just another tractor purchase. It was the farm's first experience with the Fendt brand.

Operating across a 1,200-acre arable farm alongside a 250,000-head broiler enterprise, the business has evolved significantly over the last decade, moving to a straight arable system with fewer staff and machines. Since arriving on the farm, the Fendt 726 Vario has established itself as the main drilling and cultivations tractor, earning its place through performance, versatility and efficiency. Whether it's handling large-scale cultivations or working with a new 4.5m strip-till drill, the tractor continues to impress.

Jack highlights its excellent manoeuvrability, operator comfort and ability to deliver strong pulling power at low engine speeds. The result? Outstanding fuel efficiency without compromising performance. Reliability has also been a key factor, with dependable backup from the team at TR Machinery helping to keep the tractor working when it matters most.

?? Watch as Jack shares why the Fendt 726 Vario Gen7, the farm's first Fendt, has made such a strong impression and become an integral part of their operation.