Spring Wheat Futures PricesWed, Nov 25th, 2015
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Wheat futures are mostly steady to 2 cents higher at midday, after settling 7 to 11 cents lower in CHI on Tuesday, and 5 to 7 cents lower in KC and MPLS. Dec15 MPLS wheat is trading around 6 cents higher, but Dec15 CHI wheat is trading around 3 cents lower. Unofficial reports have stated that, because of the Turkish shooting of a Russian jet, all Russian wheat exports to Turkey are indefinitely suspended. Turkey is the second largest importer of Russian wheat, behind Egypt. Jordan did not receive any offers on a 100,000 MT tender due to difficult terms, forcing it to retract the tender. Egypt purchased 240,000 MT of French, Russian and Romanian wheat for Dec 21-31 delivery at an average price of $205.74/ton. Reuters reports that wheat acreage in India has dropped off by 26% this year.
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