Price Report - April 21, 2017
Pressured by improving soil moisture conditions and a forecast for more rain next week, KCBT and CBOT wheat futures closed the week sharply lower, while MGEX ended the week flat. Strong old crop export demand and a weaker U.S. dollar lent limited support. CBOT May wheat fell 25 cents to $4.05/bu, KCBT dropped 23 cents to $4.04/bu and MGEX closed flat at $5.26/bu. CBOT May corn lost 14 cents to $3.57/bu and CBOT May soybeans dipped 4 cents to $9.51/bu.
Strong export demand and slow farmer sales supported export basis across the United States this week.