USW of FacebookUSW on TwitterUSW on YouTube
August 23, 2013


(See attached file: PR 130823.pdf) (See attached file: PR 130823.xls)

Highlights:

  • U.S. wheat futures closed mixed this week. Wheat mostly followed the corn market, higher on Monday and Wednesday and lower on Tuesday and Thursday. Wheat found support from strong export demand despite worries that U.S. supplies were too expensive to compete with Black Sea origins. Spring wheat harvest pressure and expectations for large spring crops in the U.S. and Canada pressured MGEX contracts lower. MGEX September fell 18 cents on the week to close at $7.19/bu. KCBT lost 3 cents to $6.96/bu and CBOT September added 4 cents to $6.35/bu. CBOT September corn ended 22 cents higher at $4.96/bu and CBOT September soybeans added 82 cents to $13.65/bu.
  • In a report released this week, Statistics Canada forecast the Canadian wheat harvest at 30.6 MMT. If realized, it would be the biggest crop in 22 years and up 12.9% from 2012.
  • USDA reported weekly commercial sales of 494,000 MT on Thursday, up 1% from the previous week and within trade expectations of 450,000 to 550,000 MT. Total known outstanding sales and accumulated exports of all classes of wheat for the 2013/14 marketing year, through August 15, 2013 were 14.6 million metric tons (MMT), 40% greater than last year's year-to-date total of 10.4 MMT. USDA expects total 2013/14 U.S. wheat exports (including donations) to reach 29.9 MMT.
  • US spring wheat harvest is underway but behind the 5-year average. USDA reported 18% of spring wheat harvest as of August 18, compared to the 5-year average of 38% complete. Idaho and Washington are the only two states in which spring wheat harvest progress is ahead of normal. USDA rates 66% of the crop as good or excellent and just 7% as poor or very poor. Last year at the time the crop was rated 61% good or excellent and 11% poor or very poor. Winter wheat harvest was 96% complete as of August 18, ahead of the 5-year average of 94%.
  • The Baltic Panamax Index fell for the fifth consecutive week, down 20 points to 903. Lower demand for coal shipments weighed on the index. Maritime Research's Grain Freight Index increased from 489.3 to 491.2.
  • The US Dollar Index increased slightly from 81.29 last Friday to 81.39.

File Name
PR 130823.pdf
PR 130823.xls
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 (http://commoncrawl.org/faq/) - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse