Hard Red Wheat (P) Futures PricesWed, Aug 20th, 2014
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Wheat futures closed lower. From wire reports, Ukraine is apparently slowing wheat exports while it tallies inventories of milling quality wheat to ensure domestic supplies. Only 40% of the crop is estimated to be milling quality, and of course they lost the Crimean production when it was annexed by Russia. Gulf barge bids for CIF SRW wheat jumped a nickel for Oct/Nov/Dec in the midday report and are at +85 cents vs December futures. The trade average estimate for Stats Canada Canadian wheat production is 28.5 MMT with a different survey showing 29 MMT. The report release is scheduled for Thursday morning.
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