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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. KCBT closed one cent higher at $5.35/bu and MGEX lost 11 cents to $5.56/bu. CBOTT March corn lost once cent to $3.93/bu and CBOT March soybeans added 32 cents to $10.31/bu.
  • Current HRS price indications are for Northern Spring only. Premiums for Dark Northern Spring will vary. SRW indications are for a minimum falling number of 250. Higher minimum specifications will carry a premium.
  • The International Grains Council raised its estimate for the 2014/15 global wheat crop by 2.0 MMT to 719 MMT, but projected the 2015/16 harvest would fall to 705 MMT.
  • Weekly export sales of 328,300 metric tons were at the high end of trade expectations for 200,000 to 400,000 metric tons, according to USDA. Total known exports and outstanding sales for 2014/15 are 21.3 MMT, 24% lower than last year’s sales-to-date of 28.1 MMT.
  • The Baltic Panamax Index closed at 540 this week, up from 516 last Friday.
  • The US Dollar Index closed higher this week at 95.32, up from last Friday’s 94.48.

File Name
PR 150227.pdf
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