Wheat Futures PricesWed, Aug 24th, 2016
Latest Brugler Wheat Report
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Wheat futures are trading another 2 1/2 to 6 cents lower after losing as much as 16 1/4 cents yesterday (Minneapolis). Stats Canada put Canadian wheat production at 30.5 MMT, up 10.5% year/year and the second largest crop ever, after 2013. While trade estimates had been over 30 MMT, the news still traded as bearish. The Stats Can national average yield forecast was 48.9 bpa, up 6.1 bpa year/year. As with the US, wet weather contributed to yield but did no favors to protein and milling quality. Kansas producers are looking at 8 cent LDP’s for HRW.
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.