Wheat (P) Futures PricesWed, Dec 31st, 1969
Latest Brugler Wheat (P) Report
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Wheat futures are 4 to 7 cents higher at midday. The USDA reports showed the 15/16 projections for US harvested area for all wheat shrinking by 1.4 million acres from a month ago, and the yield projection slipped half a bushel per acre. These changes had already been telegraphed in the September 30 report. They took production down about 84 mbu, but exports were cut 50 mbu helping the ending stocks projection to come down 14 mbu from last month. Accumulated US exports are 17% smaller than they were at week 18 in the 2014/15 marketing year. USDA had Australian wheat at 27 MMT today, up 1MMT from the September report and going contrary to wire service reports suggesting larger El Nino related losses.
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