Price Report - April 11, 2014
Wheat futures closed lower this week on a bearish USDA report and disappointing export sales. Futures started the week higher when forecasts for rain last weekend failed to materialize in many of the driest parts of the U.S. Plains. New forecasts for rain this weekend pushed prices lower on Thursday. USDA increased both global and U.S. ending stocks in the WASDE update on Wednesday, pushing futures lower. CBOT May wheat fell 8 cents to $6.62/bu, KCBT lost 11 cents to $7.23/bu and MGEX closed 20 cents lower at $7.02/bu. CBOT May corn closed the week one cent lower at $5.01/bu and CBOT May soybeans added 9 cents to $14.82/bu.