USW of FacebookUSW on TwitterUSW on YouTube
March 6, 2015
  • A surging U.S. dollar that could hinder export prospects pushed all three U.S. wheat futures lower this week. High prices relative to competitors and abundant world supply added to the bearish outlook. CBOT March wheat took the biggest hit, falling 32 cents to a five-month low of $4.86/bu. KCBT and MGEX each lost 14 cents to $5.21/bu and $5.42/bu, respectively. CBOT March corn lost 5 cents to $3.79/bu and CBOT March soybeans dropped 52 cents to $9.79/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.
  • ABARES predicts 2015/16 Australian wheat production will reach 24.4 MMT, which would be 3% greater than 2014/15 but below the 5-year average of 26.2 MMT.
  • Weekly export sales of 496,600 metric tons were within trade expectations but total sales of 21.8 MMT for marketing year 2014/15 are 24% behind last year’s pace.
  • The Baltic Panamax Index closed at 583 this week, up from 540 last Friday.
  • The US Dollar Index closed at 97.66 on Friday, more than 2% higher than last week.

File Name
PR 150306.pdf
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 (http://commoncrawl.org/faq/) - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse