Spring Wheat Futures PricesFri, Apr 29th, 2016
Latest Brugler Spring Wheat Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Wheat futures finished the day mixed, with the SRW market recording gains of 1 to 3 1/2 cents, but the HRW market posting losses of 1 to 3 cents. Total net export sales during the week ending April 21 reached 806,591 MT, which exceeded the highest pre-report expectations of 600,000 MT. This was the largest weekly total since the week ending July 30, 2015. Of all net sales, 56% was for 2016/17 delivery. There was 167,300 MT booked by unknown destinations. Accumulated 15/16 exports as a percentage of total exports are still 5% below the 5 year average for this date.The IGC raised its estimate for 16/17 (new crop) world wheat production by 4 MMT to 717 MMT, which is still relatively low compared to the 15/16 (old crop) USDA estimate of 733.14 MMT. The IGC also increased its 16/17 ending stocks estimate by 7 MMT.
InsideFutures Grains News