Wheat (P) Futures PricesTue, Sep 1st, 2015
Latest Brugler Wheat (P) Report
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Wheat futures ended Tuesday with small gains for SRW, but Sep HRW wheat was off more than a nickel and Dec MGE wheat lost 3 1/4 cents. Most wheat contracts posted a trading range of 7 to 10 cents on the day. The US Dollar dropped about 400 points from Monday, which helped support ideas of improvements in exports. Gulf bids for SRW (CIF) were sharply lower at midday with October shipments down 18 cents, and bids for later shipments were 5 to 9 cents lower. The ISM manufacturing index for the United States hit its lowest mark since May 2013. The USDA says that about 12% of the national spring wheat crop had yet to be harvested as of Sunday night. Minnesota harvest is 95% finished, while Montana is 85% done.? Their five year averages at this time are 78% and 49% respectively. Stats Canada is scheduled to release its July 31 Canadian wheat stocks estimates on Thursday morning. Trade estimates for total wheat range from 5.091-7.411 MMT (USDA: 4.76 MMT).
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