Wheat (P) Futures PricesThu, Feb 26th, 2015
Latest Brugler Wheat (P) Report
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Wheat futures closed mostly higher on the day, and March CBT wheat gained more than a nickel, but Kansas City and Minneapolis each lost about a penny in the March contract. The International Grains Council today forecast a 2014/15 global crop of 719 MMT, well below USDA’s 725 MMT projection. They had 2015/16 global wheat production at 705 MMT. Of course a commodity that is grown in such a large part of the world is always subject to weather events in multiple places. Moisture concerns are currently building in the Southern Plains for instance. Gulf barge bids for CIF SRW jumped a nickel today for March shipments to 80 cents over March futures.
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