Wheat Futures PricesTue, Dec 1st, 2015
Latest Brugler Wheat Report
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Wheat futures were mixed today. CHI wheat was 6 cents lower to 6 cents higher. KC wheat closed up 6 to 7 cents. MPLS wheat was fractionally lower to 13 cents higher, with front month Dec the strongest. On Friday, Dec15 CHI wheat hit its lowest price since Sept 4, and extended those losses here today following heavy deliveries against the December futures. The USDA reported this afternoon that the winter wheat condition improved by 2 points this week, to 55% good to excellent (2014: 58%). Emergence is right on the five year average pace at 93% complete. The Disaggregated Report today showed that managed money accounts in both CHI and KC wheat increased their net short position during the week ending last Tuesday, by 26,408 contracts and 3,540 contracts respectively. The updated position in CHI was 47,353 contracts net short, while KC was 24,115 contracts net short. Wheat export inspections during the week ending Nov 26 totaled 275,736 MT, just over 3,000 MT more than the previous week. Marketing year to date inspections are 16% below the pace set in 2014, currently pegged at 10.216 MMT. Nearly 36% of the Ukrainian wheat crop is estimated to be in poor condition (2014: 18%) going into winter.
InsideFutures Grains News
Due to grow seasons and seasonal fluctuations in wheat supply and demand, wheat futures tend to be highest from August through September, and lowest from January through May. These are not guaranteed trends, however, so traders of wheat futures must stay abreast of fluctuations in wheat prices and wheat quotes. Our up-to-date wheat futures table provides a summary of wheat prices with links to wheat quotes.