Wheat Futures PricesWed, Apr 1st, 2015
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Wheat futures took a 15-19 cent hit despite the USDA report numbers being slightly positive vs. expectations. In the trading arena this is called “buy the rumor, sell the fact”. All-wheat acreage was expected to come in above 55.7 million and was put at 55.367 million. Other Spring estimates averaged 13.3ma; USDA found less than 13 million. Durum came in at 1.647ma, also below the trade estimate of 1.7ma but up from 1.398 million last year. Trade estimates for March 1 wheat stocks also were on the high side: At 1.124 billion, the USDA was below the trade average of 1.14 billion bushels.
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.