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December 19, 2014
  • Wheat futures closed higher this week after the Russian government moved to restrict export certificates on Wednesday. Speculation leading up to the announcement pushed futures higher early in the week and nearby contracts reached a six month high on Thursday. Profit taking on Friday, wheat U.S. exports and forecasts for favorable weather in the U.S. Plains limited gains. CBOT March wheat added 26 cents to $6.32/bu, MGEX gained 28 cents to $6.48/bu and KCBT closed 32 cents higher at $6.66/bu. CBOT March corn gained 3 cents to $4.11/bu and CBOT January soybeans fell 17 cents to $10.31/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.
  • Russia's Veterinary and Phytosanitary Surveillance Service is restricting grain export certificates for some countries, which analysts believe will limit exports.
  • U.S. wheat exports lag last year’s pace by 24%, according to USDA. Total known outstanding sales and accumulated exports for the 2014/15 marketing year, through December 11, 2014 were 17.9 MMT, compared to last year's year-to-date total of 23.6 MMT. Weekly sales of 476,300 metric tons exceeded trade expectations of 250,000 to 450,000 MT. USDA forecasts 2014/15 U.S. wheat exports (including donations) to reach 25.2 MMT.
  • The Baltic Panamax Index closed at 907 on Friday, down from 1,001 last week.
  • The US Dollar Index closed higher this week at 89.83, up from 88.35.

File Name
PR 141219.pdf
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