Price Report - July 18, 2014
U.S. wheat futures closed mixed this week despite early gains due to bargain buying after markets hit a four-year low last week. Renewed fears of geopolitical tension in the Black Sea region following a commercial airliner crash in eastern Ukraine pushed futures higher on Thursday but markets posted sharp losses Friday as concerns subsided. Continued pressure from the advancing northern hemisphere harvest, expectations for plentiful global supplies and limited demand for U.S. wheat weighed on markets. CBOT September wheat added 6 cents to close at $5.32/bu. MGEX gained 2 cents to $6.30/bu and KCBT fell 3 cents to $6.34/bu. CBOT September corn lost 7 cents to $3.71/bu and CBOT August soybeans fell 19 cents to $11.76.