Wheat (P) Futures PricesFri, Feb 5th, 2016
Latest Brugler Wheat (P) Report
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Wheat futures are trading fractionally lower in CHI and KC this morning, but around a penny higher in MPLS. This follows the Thursday trade when prices settled 5 to 9 cents lower due to poor weekly export sales data. USDA weekly bookings through Jan 28 were 153,955 MT, below the lowest trade expectation of 200,000 MT. The weekly total was down 46.5% from the prior four week average. Weekly bookings for 2016/17 (87,800 MT) outnumbered bookings for 2015/16 (66,155 MT) for the first time this marketing year. Thursday morning, Stats Canada reported that all Canadian wheat stocks as of Dec 31 totaled 20.7 MMT, down from the December 2014 figure of 25.64 MMT, and below the average of pre-report trade estimates that was at 21.8 MMT.
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