Price Report - November 22, 2013
Wheat futures closed mixed this week. Spillover strength in the corn market and an unexpected sale to Egypt pushed SRW contracts higher. HRW contracts increased early in the week when a USDA progress report indicated deteriorating winter wheat conditions. But crop boosting rain late in the week pushed HRW and HRS markets lower. A large HRW crop would depress HRS demand. Australian production concerns pushed all three futures markets higher on Friday. CBOT December closed 4 cents higher at $6.49/bu. KCBT and MGEX December each dropped 4 cents to close at $6.95/bu and $6.96/bu, respectively. CBOT December corn added 1 cent to $4.23/bu and CBOT January soybeans climbed 11 cents to $12.92/bu.