Price Report - September 12, 2014
U.S. wheat futures notched sharp weekly losses and closed at a four year low on Friday. Updated USDA estimates increased already bearish world production and supply projections. Concerns that political tension might disrupt the Ukrainian grain market, a fear which had supported wheat futures periodically for months, eased for the second week in a row on reports of increased exports year-over-year. Forecast for improved weather in HRS regions and a stronger U.S. dollar added pressure to futures. MGEX September wheat fell 58 cents to $5.68/bu, KCBT dropped 48 cents to $5.72/bu and CBOT lost 33 cents to $4.98/bu. CBOT September corn fell 8 cents to $3.39/bu and CBOT September soybeans added 6 cents to close at $10.91/bu.