Wheat (P) Futures PricesTue, Dec 1st, 2015
Latest Brugler Wheat (P) Report
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Wheat futures settled close to UNCH (excluding a 3 cent gain in thin December), but 3 to 5 cents lower for KC and CBT contracts. December 2015 CBT wheat posted another new life of contract low today. US winter wheat emergence is right on the five year average pace for this date at 93%. The last of the IL and IN crop emerged during this past week. Deliveries against Chicago Dec slowed to 1,517 contracts. Dreyfus stopped 379 for the house account. There were 83 deliveries vs. KC December futures, all stopped by an RCG client. ABARES shaved another 0.4 MMT off of its Australian wheat production estimate from September, citing their dry Spring brought on by El Nino. Their estimate is now 24 MMT vs. USDA at 26 MMT.
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