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July 14, 2006

Highlights
After reaching 10-year highs at Wednesday's close, the bottom fell out on Thursday with HRW, HRS and SRW September deliveries falling 24, 18 and 19 cents respectively. The down draft was viewed as technical with weather in the Northern Plains lacking substantial drought relief. Temperatures in South Dakota forecast at 105 F this weekend.

A brief report by USW on the July USDA WASDE and the U.S. and world hard wheat situation can be viewed here*

Lakes HRS 1 ppm DON very hard to define this week due to lack of EU export business to test prices and low DON content in new crop supplies. Trade offer spread remained wide at 25 to 60 cents/bushel premium to 2 ppm DON, down from last week's 40 to 75 cents/bushel

HRW protein premiums remain low on high protein new crop

Durum prices unchanged

Barge rates continued upward this week. The St. Louis - NOLA rate is up 61% ($7/MT) from a month ago and expected to rise, keeping the SRW basis carry very high

This week's USDA Grain Transportation Report* indicates that during the next 2–3 weeks, automotive plants will be retooling for the upcoming model year. As a result, locomotives normally used in the movement of autos will be available to move grain and other commodities.

SRW nearby cash values at a 15 cents/bushel premium to soft white

(See attached file: PR060714.xls)(See attached file: PR060714.pdf)

File Name
PR060714.xls
PR060714.pdf
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