Hard Red Wheat (P) Futures PricesMon, Apr 20th, 2015
Latest Brugler Hard Red Wheat (P) Report
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Wheat futures are trading mostly 2 to 3 cents lower this morning after gains of 3-6 cents on Monday. Weekly USDA export inspections totaled a solid 564,502 MT, above both last week and the same week last year. USDA reported that 16% of the winter wheat has headed, 1 point above average. The weekly USDA condition ratings surprised the trade by not changing at all, at 42% good/excellent and 9% poor/very poor, while the trade was looking for improvement. The Brugler500 sub-indices show some improvement in SRW and a decline in the HRW states. Spring wheat planting is way ahead of the normal pace with 36% done vs. the average pace of 19%.
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