Price Report - February 27, 2015
U.S. Wheat futures closed mixed this week. Overall sluggish demand for U.S. wheat weighed on markets early in the week but strong weekly sales boosted futures on Thursday. A sale of U.S. wheat to Egypt supported KCBT. Frigid temperatures in the Midwest that could result in areas of winterkill supported markets early in the week. Forecasts for widespread snow that would help replenish soil moisture throughout the wheat belt pushed futures lower late in the week. Record world wheat supply and a strong U.S. dollar continue to weigh on markets. CBOT March wheat added 7 cents to close the week at $5.18/bu. CBOT closed one cent higher at $5.35/bu and MGEX lost 11 cents to $5.56/bu. CBOT March corn lost once cent to $3.93/bu and CBOT March soybeans added 32 cents to $10.31/bu.