USW of FacebookUSW on TwitterUSW on YouTube
June 7, 2013

(See attached file: PR 130607.pdf) (See attached file: PR 130607.xls)

  • Wheat futures closed lower or unchanged this week on mostly technical selling and very little fundamental news. Lower export potential pressured markets on Wednesday when South Korea excluded U.S. wheat in a tender and Thursday when old crop sales were lower than expected. MGEX futures found support from delayed spring wheat plantings and the July contract closed unchanged for the week at $8.20/bu. The impending winter wheat harvest pressured both the KCBT and CBOT futures, which closed lower for the week. KCBT July contract fell 13 cents to $7.39/bu and CBOT July closed 8 cents lower at $6.98/bu. CBOT July corn added 1 cent to $6.63/bu and CBOT soybeans closed 17 cents higher at $15.27/bu.
  • USDA reported higher than expected new crop commercial sales of 664,900 MT on Thursday. Analysts had predicted 2013/14 wheat sales between 400,000 and 600,000 MT. In the final week of the old marketing year, net sales for the 2012/13 marketing year -33,200 MT. Analysts were expecting no new export sales of old-crop wheat.
  • Delayed spring wheat plantings supported MGEX this week as the slow pace has raised expectations that total spring acreage will fall below forecasts. On Monday, USDA reported 80 percent of total expected spring plantings complete, compared to 100 percent last year and the five-year average of 92 percent.
  • The Baltic Panamax Index fell for the seventh consecutive week, down 31 points to 764. The index has fallen 36 percent since April 19. Vessel supply continues to outpace demand, weighing on the market. Maritime Research's Grain Freight Index increased from 481.7 to 479.2.
  • The US Dollar Index fell 2 percent this week from 83.40 to 81.66.

File Name
PR 130607.pdf
PR 130607.xls
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 ( - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse