USW of FacebookUSW on TwitterUSW on YouTube
July 24, 2015
  • U.S. wheat futures continued to fall this week, pushed downward by technical selling and weak export demand due to US wheat being too expensive to be competitive on the world market. Improving harvest conditions in the Midwest, France, and the Black Sea Region, and spillover weakness from other commodities, added further downward pressure. Chicago closed down 42 cents to $5.12 per bushel, Kansas City closed down 39 cents to $5.08 per bushel, Minneapolis closed down 37 cents to $5.45 per bushel, corn futures closed down 27 cents to $3.93 per bushel, and soybeans closed down 48 cents to $9.67 per bushel.
  • The CWB crop tour estimated that Western Canadian spring wheat yields will be at an eight year low, and durum yields will be at a twelve year low due to hot-dry weather. All wheat production in Western Canada was projected to drop to 23.1 MMT, down 15% from last year, sprng wheat at 18.1 MMT, down 13%, and drum at 4.2 MMT, down 19%.
  • 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 U.S. Department of Agriculture's weekly Export Sales Report, net sales of 502,800 MT for delivery in marketing year 2015/2016 were up 73% from the previous week and were above trade expectations of 200,000 to 400,000 MT. Total known outstanding sales and accumulated exports of all classes of wheat, through July 16, 2015 were 6.99 MMT, 22% lower than last year's year-to-date total of 8.93 MMT. USDA forecasts 2015/16 U.S. wheat exports to reach 25.9 MMT.
  • The Baltic Panamax Index closed at 1,137 on Friday, down from last week's 1162.
  • The US Dollar Index closed at 97.35, down 1% from 97.99 last Friday.

File Name
PR 072415.pdf
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 (http://commoncrawl.org/faq/) - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse