Hard Red Wheat (P) Futures PricesWed, Oct 1st, 2014
Latest Brugler Hard Red Wheat (P) Report
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Wheat futures were higher in Chicago, but mixed in KC today. In the small grains report published yesterday, the USDA put the 2014 wheat production figure near expectations at 2.035 bbu. Winter wheat pre-report estimates averaged 1.404 bbu, but the USDA came in on the low end of the range at 1.378 bbu. The September 1, 2014 wheat stocks in all positions totaled 1.914 bbu, very close to the average trade estimate of 1.910 bbu. Estimates for Canadian wheat production are creeping toward 28 MMT, up about 300,000 MT from the previous Stats Canada estimate but still well below the 37 MMT crop in 2013. Expectations for weekly US export sales are in the 400,000-600,000 MT range. The USDA report will be out at 7:30 am CDT.
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