Hard Red Wheat (P) Futures PricesThu, Jul 31st, 2014
Latest Brugler Hard Red Wheat (P) Report
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Wheat futures are trading 2 to 4 cents higher. Funds were estimated to be net buyers of around 2,000 lots of CBOT wheat. The IGC raised its global wheat production forecast to 702 million, which is up 3MMT from a previous estimate; the July WASDE report had total world production at 705.17 MMT. The global consumption figure is close behind at 699.92 MMT, down from 705.52 in 2013/14. USDA published an export sales figure that was well above trade expectations yesterday, putting the actual figure at 801,000 MT.
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