USW of FacebookUSW on TwitterUSW on YouTube
July 2, 2009

(See attached file: PR 090702.pdf)(See attached file: PR 090702.xlsx)
  • Futures traded lower again this week, with CBOT July futures closing at a 4-month low and KCBT July futures at a 3-month low. Plentiful global supplies, along with a firming dollar, put pressure on wheat prices. CBOT July futures closed 34 cents/bu down from last week at $5.00/bu. KCBT July futures were also down 34 cents/bu, closing at $5.55/bu. MGEX closed the week out at $6.18/bu, down 49 cents. Soybeans rallied this week, gaining 42 cents and closing at $12.43/bu while corn was down 39 cents on the week.
  • The U.S. Department of Agriculture released their Acreage report on Tuesday, June 30. The estimate for all wheat planted is 59.8 million acres. This number is down 5% from last year, but up 1% from the previous estimate.
  • Export sales this week were 241,900 metric tons (MT), which is down 34 percent from last week and fell short of trade expectations. Increases were reported for Mexico (56,500 MT), Nigeria (41,000 MT), the Philippines (32,500 MT), Ecuador (32,000 MT), Israel (29,000 MT), Italy (19,000 MT), and Canada (15,800 MT).
  • The Baltic Panamax Index climbed higher this week, closing up 9% from last week at 3,509. Destination rates also rallied slightly, with Gulf/Japan climbing to $60/MT and Pacific/Japan at $33/MT.
  • The ICE dollar index was up this week in what was a relatively flat week for the dollar. The ICE index finished the week at 80.3, up from 79,84 last week.

File Name
PR 090702.pdf
PR 090702.xlsx
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 ( - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse