Wheat (P) Futures PricesMon, Mar 2nd, 2015
Latest Brugler Wheat (P) Report
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Wheat futures deepened their losses by the close in Chicago and Kansas City, while Minneapolis ended just 1 cent lower. Hard red spring, hard red winter, and soft white winter wheat export inspections all came in between 129K and 130K metric tons for the week ended Feb. 26, while SRW was under 62K. The total, at 450K, was down 15% from the prior week and 26% from last year as US shippers continue to struggle with world competition. The US Dollar Index held firm today, posting small gains and stopping just short of multiyear highs; standing at 95.468 as this was written. The PNW led in inspections, at almost 229K metric tons, while the Gulf total was nearly 158K; smaller amounts were inspected on the east coast and at interior locations. The indicated crop insurance guarantee for spring wheat is $5.85/bu., 10% below the $6.51 that applied last year.
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