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June 5, 2015
  • U.S. wheat futures rallied this week on crop concerns in Europe, Russia and India due to dry conditions. The U.S. Dollar Index fell sharply early in the week, providing support for wheat. Gains were limited by a bearish Informa Economics report and a rebound in the Dollar index late in the week. CBOT July wheat added 40 cents to close at $5.17/bu, KCBT gained 37 cents to $5.35/bu and MGEX closed 41 cents higher at $5.72/bu. CBOT July corn increased 9 cents to $3.61/bu and CBOT July soybeans added 4 cents to $9.38/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.
  • U.S. analytical firm Informa Economics left its forecast of 2015 U.S. winter wheat production mostly unchanged at 1.48 million bushels from 1.49 billion previously, and stayed above USDA's May figure of 1.47 billion. Many analysts expected a larger reduction following severe floods in Texas and Oklahoma.
  • In its weekly crop progress report, USDA rated 44% of the U.S. winter wheat crop as good to excellent as of May 31, down from 45 percent last week and compared to 30 percent last year. U.S. spring wheat progress is well ahead of normal with 91% emerged as of May 31, compared to just 69% on average the last five years, according to USDA. The spring crop is rated 71% good to excellent, up from 69% last week.
  • The Baltic Panamax Index closed at 596, up from 524 last week.
  • The US Dollar Index closed lower this week at 96.37, down slightly from 96.98 last Friday

File Name
PR 150605.pdf
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