Wheat (P) Futures PricesMon, May 23rd, 2016
Latest Brugler Wheat (P) Report
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Wheat futures are 1 to 3 cents lower this morning after modest losses on Monday. USDA weekly export inspections were 301,271 MT, which was smaller than both last week and the same week last year. The light figure makes it increasingly unlikely that the USDA projection for the year is met. NASS reported that US winter wheat is 75% headed, well ahead of the five year average of 66% for this week. Spring wheat is 95% planted, and 78% emerged; both figures are still well-ahead of their respective fiver year averages. More than 3/4 of the US HRS crop is in the good or excellent condition rating. The Brugler500 crop condition Index rating of 361 for winter wheat is UNCH vs. last week. The first spring wheat Index of 382 matches the 10 year average but is comfortably above last year.
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