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May 22, 2015
  • U.S. wheat futures closed higher this week as excessive moisture in the Southern U.S. Plains threatened wheat quality and yields. Frost in the Northern U.S. plains and dry weather in Southern Russia also supported futures. Improving U.S. crop conditions and weak export demand for U.S. supplies limited gains. The U.S. Dollar Index closed higher for the first time in 6 weeks and slowed the market’s momentum. CBOT July wheat added 4 cents to %5.15/bu, KCBT gained 5 cents to $5.47/bu and MGEX closed 8 cents higher at $5.69/bu. CBOT July corn dropped 6 cents to $3.60/bu and CBOT July Soybeans lost 29 cents to close at $9.24/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.
  • In its weekly crop conditions update, USDA rated 45% of the U.S. winter wheat crop as good to excellent, up from 44% the previous week. In its first spring wheat condition report of the season, USDA estimated 65% of the crop as good to excellent.
  • Spring wheat planting remains well ahead of average at 94% percent compete, compared to the five-year average of 65% according to USDA.
  • According to USDA's weekly Export Sales Report, net sales for delivery in marketing year 2014/2015 were of 74,400 metric tons, which was above trade expectations for between 150,000 metric tons net reduction and 50,000 metric tons net increase. Total known outstanding sales and accumulated exports of all classes of wheat, through May 14, 2015 were 23.3 MMT, 27% lower than last year's year-to-date total of 31.8 MMT.
  • The Baltic Panamax Index closed at 549, down from 579 last week.
  • The US Dollar Index closed sharply higher this week at 96.29, up from 93.24 last Friday.

File Name
PR 150522.pdf
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