Wheat (P) Futures PricesWed, May 25th, 2016
Latest Brugler Wheat (P) Report
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Wheat futures settled 1 3/4 to 4 1/2 cents higher in CHI and KC, but fractionally mixed in MPLS. The National Weather Center in Kiev expects 2016/17 Ukrainian wheat production to be 23 MMT, versus the USDA estimate of 24 MMT and the UkrAgroConsult projection of 21.5 MMT. Indian flour mills have agreed to import 500,000 MT of Australian and French wheat for July to September delivery. Japan is seeking 135,049 MT of wheat from the US, Australia, and Canada in a tender that closes Thursday. A survey of trade analysts shows USDA wheat export sales during the week ending May 19 are expected to range from 0 to 200,000 MT for 2015/16 delivery, and from 300,000 to 500,000 MT for 2016/17 delivery.
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