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November 21, 2014
  • U.S. wheat futures closed lower on Friday on weak export demand and technical selling after markets hit a 3-month high last week. Futures found support from freezing weather in the U.S. Midwest and Plains that stressed crops and could prevent further SRW seeding. Drought conditions in Australia, which have limited production, also supported futures. CBOT December wheat fell 13 cents to $5.47/bu, MGEX dropped 6 cents to $5.83/bu and KCBT lost 3 cents to $6.02/bu. CBOT December corn fell 8 cents to $3.73/bu and CBOT January soybeans lost 4 cents to $10.21/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.
  • According to the USDA's weekly Export Sales Report, net sales of 361,700 metric tons for delivery in the 2014/2015 marketing year were down 13 percent from the previous week and on the low end of trade expectations of 300,000 to 500,000 MT. Total known outstanding sales and accumulated exports through November 13, 2014 were 16.2 MMT, 26% lower than last year's year-to-date total of 21.8 MMT. USDA forecasts 2014/15 U.S. wheat exports (including donations) to reach 25.2 MMT.
  • The Baltic Panamax Index closed at 1,055 on Friday, down from 1,089 last week.
  • The US Dollar Index closed lower this week at 88.38, up from 87.62.

File Name
PR 141121.pdf
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