Wheat Futures PricesThu, May 5th, 2016
Latest Brugler Wheat Report
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Wheat futures this morning are trading mostly steady again this morning after settling mostly flat to 4 3/4 cents higher yesterday, with the strength in MPLS. Most contracts closed 4 to 5 cents below their respective daily highs. Trade analysts expect US export bookings during the week ending 4/28 to range from 250,000 to 650,000 MT. Australian wheat production in 2016/17 is estimated to be 24.0 MMT by the ag attache there, steady with the post estimate for 15/16. January to March Argentinean wheat exports were up 105% from a year ago, following the removal of the export tariff late last year. The Day 2 average from the KS WQT was 49.3 bpa, vs. 34 bpa LY. Today is the third and final day of the tour.
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.