Wheat Futures PricesThu, Jul 2nd, 2015
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Wheat futures are 6 to 8 cents higher after double digit losses on Wednesday. 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 16.22% from the week ending June 18. Shipments were down as well, off 6.68%. Grain exports from Ukraine hit a record high for the 2014/15 MY which ended June 30. The Ukraine Ag Minister reports that 10.9 MT of wheat was exported for the MY, 12.37% ahead of 2013/14 figures. Consultant Informa updated their US winter wheat production estimate. They are now at 1.477 bbu, down from 1.481bbu that was reported in June. 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.
InsideFutures Grains News
Due to grow seasons and seasonal fluctuations in wheat supply and demand, wheat futures tend to be highest from August through September, and lowest from January through May. These are not guaranteed trends, however, so traders of wheat futures must stay abreast of fluctuations in wheat prices and wheat quotes. Our up-to-date wheat futures table provides a summary of wheat prices with links to wheat quotes.