Hard Red Wheat (P) Futures PricesTue, Nov 24th, 2015
Latest Brugler Hard Red Wheat (P) Report
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Wheat futures are currently down 5 to 8 3/4 cents in the December contracts, with CBT wheat the weakest. The USDA stated in its Crop Progress report after the Monday close that overall the winter wheat crop holds a condition rating of 53% good to excellent, up 1 point from last week. The NE winter wheat crop declined a point from last week, currently at 63% good to excellent, while KS improved a point to 47% good to excellent. The agency reported that 96% of the intended winter wheat crop was planted as of Sunday night, with all but 6 states reportedly finished. The five year average shows that plantings are typically finished by now. Emergence is right on pace at 90%. Emergence in KS is one point ahead of the five year average at 97% complete, while OK emergence is a point behind at 93%. The latest export prices according to the IGC show that US HRW at the Gulf is still $23/ton more expensive than French wheat.
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