Wheat Futures PricesTue, Jun 30th, 2015
Latest Brugler Wheat Report
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Wheat futures marked another solid up day for all three major classes. July15 SRW futures have gained more than a dollar per contract in the last seven trading periods. USDA had both the acreage and the June 1 wheat stocks figures larger than the average pre-report trade estimates. The planted acreage came in at 56.079 million acres, up about 712,000 acres from the March report, but down 4.4% year/year. Wheat stocks in all positions were 753 mbu; near the higher end of estimates, and well above the average guess of 718 mbu. USDA will be forced to reduce feed use and export use in the July WASDE report to match this stocks figure. Stats Canada reported Canadian wheat acreage at 24.1 million acres, down 700,000 acres from its previous estimate, and 500,000 acres below most analyst projections.
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.