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April 2, 2015
  • All three nearby wheat futures contracts closed higher in a short trading week. Forecasts for hot and dry weather in the U.S. Plains, where moisture levels are very low, and excessive precipitation in SRW areas both supported prices. Lower than expected planting projections by USDA also helped push futures higher. Gains were limited by spillover weakness from corn and a selloff after Monday‚Äôs rally. CBOT May wheat gained 29 cents to $5.36/bu. KCBT added 30 cents to $5.83/bu and MGEX closed 21 cents higher at $5.96/bu. CBOT May corn dropped 5 cents to $3.87/bu and CBOT May soybeans added 19 cents to $9.86/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.
  • In its Prospective Plantings report released Tuesday, USDA projected all wheat planted area for 2015 at 55.4 million acres, down 3% from 2014. The area planted to winter wheat is down an estimated 4% from 2014 to 40.8 million acres but up slightly from the previous estimate. Area planted to spring wheat is estimated at 13.0 million acres, down slightly from 2014. The intended Durum planted area for 2015 is estimated at 1.65 million acres, up 18% from the previous year.
  • According to the USDA's weekly Export Sales Report, net sales of 162,100 metric tons for delivery in 2014/2015 were within trade expectations of 100,000 to 300,000 MT. Total known outstanding sales and accumulated exports of all classes of wheat, through March 26, 2015 were 22.9 MMT, 24% lower than last year's year-to-date total of 30.3 MMT. USDA forecasts 2014/15 U.S. wheat exports (including donations) to reach 24.5 MMT.
  • The Baltic Panamax Index closed at 589 on Thursday, down from 597 last Friday.
  • The US Dollar Index closed at 97.69 on Thursday, up slightly from 97.44 last Friday.

File Name
PR 150402.pdf
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