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August 7, 2015
  • Wheat futures began the week on a low note with CBOT hitting a six-week low and MGEX and KCBT falling to five-year lows due to abundant world supply, a strong U.S. dollar and seasonal harvest pressure. The export sales hit a marketing year high, which lent strength to the markets late in the week. CBOT September wheat added 11 cents for the week to close at $5.11/bu, KCBT was up 1 cent at $4.93/bu and MGEX rose 2 cents at $5.25/bu. CBOT September corn ended the day up 2 cents at $3.73/bu and CBOT August soybeans reached $9.76/bu, up 23 cents from last Friday.
  • 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.
  • Trade experts indicated that early reports from spring wheat harvest areas are promising with good yield, quality and high protein.
  • In its weekly crop progress update, USDA reported spring wheat harvest is 8% complete behind the 4-year average pace of 11% with 70% of the spring wheat crop rated good to excellent, down one percent from the prior week and an unchanged 6% rated poor. USDA reported winter wheat harvest is 93% complete, up from 85% the week before.
  • According to USDA’s weekly Export Sales Report, net sales of 838,500 metric tons--a marketing-year high--for delivery in marketing year 2015/2016 were up 20% from the previous week and 82% from the prior 4-week average and were above trade expectations of 400,000 to 600,000 MT. However, total known exports and outstanding sales for delivery in 2015 remain 17% below last year’s sales-to-date at 8.52 MMT.
  • The Baltic Panamax Index closed at 1,201 on Friday, up 17% from 1,023 last week.
  • The US Dollar Index closed at 97.64, down from 96.97 last Friday.

File Name
PR 150807.pdf
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