USW of FacebookUSW on TwitterUSW on YouTube
February 20, 2015
  • Futures closed lower this week after Egypt withdrew a tender to buy U.S. wheat. The bearish market is underpinned by record world supply and a strong U.S. dollar. Losses were limited due to a severe cold spell in the wheat belt that is threatening the dormant winter crop. MGEX March wheat fell 20 cents to $5.67/bu, CBOT dropped 23 cents to $5.10/bu and KCBT lost 30 cents to close at $5.33/bu on Friday. CBOT March corn fell 2 cents to $3.85/bu and CBOT March soybeans added 9 cents to $9.99/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.
  • GASC, Egypt's state grain buyer, canceled a tender to buy U.S. wheat on Wednesday due to high prices. The decision highlighted that U.S. wheat prices are not competitive in many markets.
  • Weekly export sales of 266,600 metric tons fell below trade expectations of 300,000 to 500,000 MT this week, according to USDA. Total known outstanding sales and accumulated exports (21.0 MMT) for the 2014/15 marketing year, through February 12, 2015 are 24% off last year’s pace.
  • The Baltic Panamax Index closed at 516 this week, up from 499 last Friday.
  • The US Dollar Index closed higher this week at 94.48, up from last Friday’s 94.23

File Name
PR 150220.pdf
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 (http://commoncrawl.org/faq/) - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse