Spring Wheat Futures PricesFri, May 22nd, 2015
Latest Brugler Spring Wheat Report
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Wheat futures were 3 to 11 cents lower on the day, but were able to hold onto gains of 4 to 7 cents on the week. The US Dollar Index jumped up nearly another 900 points today on a lower Euro, adding to the gains of comparable size from two other days this week. Private exporters reported to the USDA that Taiwan purchased a total of 101,950 MT of US wheat for new crop delivery. The majority of the purchase was HRS, but about 30% was HRW and 10% was SWW. Dow Jones says Chinese wheat imports for April were down 35% yr/yr, and YTD 2015 imports are off 73% yr/yr. The weekly Commitment of Traders report from the CFTC showed managed money accounts knocking sizable chunks off of their respective net short positions in both CBT and KC wheat as of the Tuesday close.
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