Wheat Futures PricesFri, Jul 25th, 2014
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Wheat futures gains evaporated, similar to what happened in corn. The three markets closed 2 to 5 cents lower. The Spring Wheat Tour projected average yield of 48.6 bpa, an all time record. The 5 year average for the group is 44.7 bpa. They projected durum yield at 36.6 bpa. This morning USDA reported that net weekly sales through July 17 totaled 443,200 MT. The largest buyer s were Japan and Nigeria. The total was comfortably within the range of estimates, i.e. no bullish surpise. Japan bought 95,600 MT from all sources in the weekly MOA tender. Australia is expecting current dry weather in the eastern part of the country to last another 60-90 days, affecting wheat and other crops.
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.