Spring Wheat Futures PricesTue, Jul 22nd, 2014
Latest Brugler Spring Wheat Report
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Wheat futures are trading lower at midday, after selling off from higher trade earlier in the session. Russian prices continue to slip on harvest pressure; Paris milling wheat futures bounced off of a four year low today. Chicago wheat futures are also at the lowest level in four years for a front month contract. Funds were estimated to be net sellers of 2,000 lots of CBOT wheat yesterday. USDA reported that HRW harvest has caught up to normal at 75% completed. Spring wheat is 84% headed, just below the 5 year average of 85% for this week. The Brugler500 spring wheat condition index rose 2 points from last week, as there was a collective improvement of 1% of the crop from very poor to fair.
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