Wheat (P) Futures PricesFri, Sep 19th, 2014
Latest Brugler Wheat (P) Report
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Wheat futures closed 9 to 14 cents lower on the day and were 28 to 43 cents lower on the week. Informa economics is looking for a 16 million bushel increase in the US wheat production figure released by the USDA on September 30, stemming from what they think will be a 0.2 bushel per acre increase in the average yield. US Export commitments (shipments plus outstanding sales) total 51% of the much reduced USDA forecast for the entire year. They are running ahead of the 49% average for this date. The EU approved 505,000 MT of wheat export licenses this week. Egypt tonight is tendering to buy wheat for October 21-31 delivery. Spec funds trimmed their net long position in KC wheat by 5,151 contracts last week, and also extended their big net short in Chicago by another 5,380 contracts.
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