Hard Red Wheat (P) Futures PricesFri, Oct 24th, 2014
Latest Brugler Hard Red Wheat (P) Report
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Wheat futures are trading lower on the day, after the front months showed gains of a dime or more in overnight trading. Export sales reported on Thursday were below expectations. Commitments since June 1 are now 59% of the full year forecast. The 5 year average pace for this date is 58%. More than 20.4 million bushels are now in the governmental 9 month price support loan program, up 2.375 mbu from the previous week. A Bloomberg survey is putting the Australian wheat crop at 23.2 MMT due to frost and hail damage (and some southern dryness issues) vs. the previous government estimate at 24.2 MMT.
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