Wheat (P) Futures PricesThu, Mar 26th, 2015
Latest Brugler Wheat (P) Report
Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.
Wheat futures are currently trading mostly 1 to 3 cents higher. They posted double digit losses yesterday on a combination of poor export sales and a technical failure to take out chart resistance. Preliminary open interest rose 9,966 contracts in Chicago on new selling interest as the snowball started to roll. USDA put the combined old- and new-crop number at just 181,700 MT. Old-crop bookings were just 102,300 MT as we are getting into the home-stretch of the old crop marketing year. A stronger US dollar didn’t help the bulls. The Dow Jones survey put 2015 US all-wheat planting at 55.612 million acres, including 40.578 million acres of winter wheat. In January, USDA put winter wheat at 40.452 million, so there is a bias toward finding a few more winter wheat acres. Spring and durum acreage is expected to increase yr/yr in 2015.
InsideFutures Grains News