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July 2, 2015
  • Wheat futures closed higher this week on worries of harvest delays and potential quality problems in the U.S. Midwest. Additional support came from global crop concerns, including stressful dry weather in Canada and Europe. Spillover strength in corn and soy markets also pushed wheat higher. Gains were limited by reports of adequate U.S. wheat supplies and higher than expected planted area. CBOT July wheat added 24 cents to close at $5.86/bu. KCBT gained 17 cents to $5.76/bu and MGEX increased 32 cents to $6.06/bu. CBOT July corn added 35 cents to $4.20/bu and CBOT July soybeans closed 43 cents higher at $10.45/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.
  • Statistics Canada said Canadian farmers planted 24.1 million acres of wheat for the 2015 harvest, down from its March forecast of 24.8 million but up from 23.8 million a year ago. Increased durum acres offset a decline in both winter and spring wheat acres.
  • In its monthly supply and demand projections, the European Commission lowered its forecast for the 2015/16 EU soft wheat harvest to 140 MMT, down 1.5 MMT from its previous projection and compared with a record 149 MMT last year.
  • In its June stocks report released Tuesday, USDA estimated U.S. wheat stocks at 20.5 MMT as of June 1, up 28% from a year earlier.
  • According to USDA’s weekly Export Sales Report, net sales totaled 363,900 MT for delivery in marketing year 2015/2016 and were within trade expectations of 200,000 to 550,000 MT. Total known outstanding sales and accumulated exports, through June 25, 2015 were 5.85 MMT, 25% lower than last year's year-to-date total of 7.83 MMT. USDA forecasts 2015/16 U.S. wheat exports (including donations) to reach 25.2 MMT.
  • The Baltic Panamax Index closed at 883, up from 833 last week.
  • The US Dollar Index closed higher this week at 96.26, up from 95.60 last Friday.

File Name
PR 150702.pdf
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