Wheat (P) Futures PricesThu, Jul 2nd, 2015
Latest Brugler Wheat (P) Report
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Wheat futures finished mixed on the day. CHI wheat was 2 cents down to 5 cents higher (23 cents higher from last week). KC steady to 2 cents lower (17 cents higher from last week). MPLS traded down 2 cents to up 5 cents (10 cents higher than last week). USDA Weekly Export Sales estimates ran from 250,000 to 450,000 MT for the week ending June 25. This morning, USDA put the actual number for last week right in the middle at 363,900 MT. Japan was the largest buyer at 87,400 MT. Net sales declined by 16% from the week ending June 18. Shipments were down as well, off ~7%. The Ukraine Ag Minister reports that 10.9 MT of wheat was exported for the MY, 12.37% ahead of 2013/14 figures and a new record for them. Consultant Informa updated their US winter wheat production estimate this morning. They are now at 1.477 bbu, down from 1.481 bbu that was reported in June. They also lowered Canadian wheat production estimates, down 91.86 mbu to 1.094 bbu. Egypt bought only 60,000 MT of wheat at their tender, from Romania at a reported $212.47 c&F or about $5.78 per bushel.
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