USW of FacebookUSW on TwitterUSW on YouTube
May 18, 2007
(See attached file: PR070518.xls) (See attached file: PR070518.pdf)

Highlights
  • Wheat markets were volatile this week. They started strong following estimates for tight global wheat supplies, but ended lower as the market shifted focus to the 10 MMT projected increase in the US wheat crop for 2007/08. Additionally, improving weather conditions in Australia, China, and some areas of Europe weighed on prices.
  • SRW futures are now trading at a $0.05/bushel premium to HRW (July Delivery), HRW at $0.95/bushel ($35 MT) premium to corn down from $1.03/bushel ($38/MT) last week. SW premium to SRW moved down $1/MT to $29/MT.
  • Net sales of 2006/07 US wheat were down 69 percent from last week, and 76 percent below the prior 4-week average. New crop sales were decent, increasing 337,600 MT from last week, pushing the total just over 1.3 MMT.
  • Ocean freight rates remain near record levels on strong demand for raw materials from China and India. The PNW-Japan rate is $27/MT higher than May 2006, while Gulf rates are more than double rates paid this month last year.
  • The Maritime Grain Index moved higher for the twelfth consecutive week, ending the week at 537.6 up 4 percent from last week’s close.

File Name
PR070518.xls
PR070518.pdf
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 (http://commoncrawl.org/faq/) - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse