Hard Red Wheat (P) Futures PricesWed, May 4th, 2016
Latest Brugler Hard Red Wheat (P) Report
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Wheat futures at midday of midweek are mostly 1 to 5 cents higher, after being fractionally mixed this morning. The ag attache in Australia predicts 2016/17 wheat production to be 24.0 MMT, steady with the post estimate for 15/16, but 0.5 MMT lower than the official USDA estimate for 15/16. A Reuters survey shows trade ideas for the Stats Canada wheat stocks report this Friday average 13.8 MMT. That would be down 24% from year ago. January to March Argentinean wheat exports were up 105% from a year ago, following the removal of the export tariff late last year.
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