Wheat (P) Futures PricesThu, Oct 8th, 2015
Latest Brugler Wheat (P) Report
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Wheat futures are currently trading 5 to 6 cents lower, continuing their retreat ahead of the USDA reports on Friday. Wheat export sales totaled 293,100 MT during the week ending Oct 1, an increase of 280% from the week before. Trade estimates for the weekly USDA Export Sales report were from 175,000 to 375,000 MT. Thailand (57,600 MT) was the largest buyer, followed closely by South Korea (53,500 MT). Accumulated exports are 17% smaller than they were at week 18 in 2014. A Reuters survey shows the average trade estimate for 14/15 world wheat ending stocks climbing by just 0.06 MMT to 211.37 MMT, while the group expects USDA will cut 15/16 world ending stocks to 224.75 MMT from 226.56 MMT a month ago.
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