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March 20, 2015
  • Wheat futures closed higher this week after a sharp drop in the U.S. dollar index, which makes U.S. products more competitive globally. Futures also found support from dry weather in the U.S. Southern Plains and parts of Europe and Russia. Projections for lower U.S. planted acres also boosted markets. Gains were limited due to record world supply and high U.S. prices compared to competitors. KCBT May wheat added 30 cents to close at $5.70/bu, CBOT gained 28 cents to $5.30/bu and MGEX closed 22 cents higher at $5.90/bu. CBOT May corn gained 5 cents to $3.85/bu and CBOT May soybeans closed unchanged at $9.74/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.
  • Analyst group Informa Economics projected total U.S. wheat seedings for the 2015 harvest will fall to 56.0 million acres, compared to USDA’s official 2014 estimate of 56.8 million acres planted. A grower survey by Farm Futures magazine forecast total 2015 seedings at 55.6 million acres.
  • According to USDA’s weekly Export Sales Report, wheat sales of 391,900 metric tons for delivery in the 2014/2015 marketing year were within trade expectations of 350,000 to 550,000 MT. Total known outstanding sales and accumulated exports through March 12, 2015 were 22.6 MMT, 23% lower than last year's year-to-date total of 29.5 MMT. USDA forecasts 2014/15 U.S. wheat exports (including donations) to reach 24.5 MMT.
  • The Baltic Panamax Index closed at 617 on Friday, up from 585 last week.
  • The US Dollar Index closed at 98.16 this week, down from 100.72 last Friday.

File Name
PR 150320.pdf
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