Price Report - June 15, 2018
Decreasing 2018/19 wheat production estimates for Russia, Ukraine and the European Union lent wheat futures support early this week, but profit-taking and a strong U.S. dollar pressured wheat futures lower. Seasonal harvest pressure for hard red winter (HRW) and soft red winter (SRW) also weighed on futures. CBOT July wheat fell 20 cents to $4.99/bu, KCBT lost 18 cents to close at $5.20/bu, and MGEX dropped 27 cents to $5.71/bu. CBOT July corn decreased 16 cents to close at $3.61/bu and CBOT July soybeans plummeted 63 cents this week to $9.05/bu.