Wheat (P) Futures PricesMon, Sep 29th, 2014
Latest Brugler Wheat (P) Report
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Wheat futures closed mostly higher, with Dec KC wheat the only wheat contract finishing in the red today. Both CBT and MGE wheat gained 7 cents on the day in their respective Dec14 contracts. Wheat inspections for export this week came in at a solid 537,647 MT up from 519,155 MT last week. Market year to date totals are only 65.4% of what they were a year ago. Trade estimates for September 1 all wheat production are 2.004 to 2.075 billion bushels, with winter wheat at 1.41 billion. The USDA collectively estimates 43% of the winter wheat crop has been planted, ahead of the 5yr average by about 7 points. Approximately 14% of the crop has emerged, vs. the 5yr avg of 12%. As of Sunday, 6% of the national Spring wheat crop is still out in the fields, with the largest percentage of un-harvested crop in North Dakota.
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