USW of FacebookUSW on TwitterUSW on YouTube
October 20, 2017
  • U.S. wheat futures fell moderately lower this week on technical selling, weaker than expected exports, and improved planting conditions for winter wheat crops in the Midwest and Great Plains. CBOT fell 14 cents to close at $4.26 per bushel. KCBOT fell 13 cents to close at $4.23 per bushel. MGEX fell 4 cents to close at $6.11 per bushel. Corn futures fell 8 cents to close at $3.45 per bushel and soybean futures fell 21 cents to close at $9.89 per bushel.
  • The planting of this year's HRW crop is off to one of the slowest starts in history, raising concerns that farmers are going to plant even less wheat in the region this year. Wet weather has been delaying planting, though better conditions were reported for this week.
  • Farmers in Canada are wrapping up their wheat harvest with initial reports indicating that the country's CWAD crop is much smaller than last year and that the CWRS crop has lower than expected protein levels.
  • As of October 5, U.S. wheat export sales have reached 14.2 MMT, down 5 percent compared to this same time last year.
  • Russian farmers have planted 90 percent of their winter wheat area with conditions reported to be worse than last year due to a lack of soil moisture.
  • SovEcon raised its forecast for Russian wheat exports by 5 percent to 33.9 MMT.
  • Grain traders have agreed with Ukraine's government to limit wheat exports from the country to 16.5 MMT, down compared to the 17.4 MMT agreed to last year.
  • Wheat plantings in India are expected to surpass last year's 76.7 million acres.
  • Farmers in Germany are expected to increase their winter wheat plantings this year due to heavy rains disrupting the planting of rapeseed.
  • A sharp rise in the euro and strong competition from the Black Sea is limiting EU wheat exports, which at 5.7 MMT are so far down 31 percent compared to last year.
  • Wheat shipments to Egypt are being disrupted by a dispute involving government inspectors angered by a change in policy which ended on-site inspections at ports loading wheat for Egypt.
  • The US Dollar Index rose to 93.66, up from last week's 93.05.
  • The Baltic Dry Index rose 97 points to 1582, reaching its highest level since March of 2014 on increased shipping demand.

File Name
PR102017.pdf
2008-2013 U.S. Wheat Associates. All Rights Reserved
CCBot/2.0 (http://commoncrawl.org/faq/) - Is Mobile: Privacy Policy | Non-Discrimination Statementfalse