Wheat Futures Market News and Commentary
Wheat prices ended the first trade day of the week with losses. CBT wheat futures closed the session 6 1/4 to 7 1/2 cents weaker. HRW wheat futures closed 9 1/2 to 10 cents weaker. Spring wheat futures ended with 17 1/4 to 19 cent losses.
NASS reported the national winter wheat harvest at 4% complete through 6/13. That is behind the 15% average pace. TX and OK were 30% and 10% harvested respectively, behind their 55% and 41% average pace. Winter wheat condition ratings were down another 5 points on the Brugler500 Index to 330. Conditions in AR, MO, and OR were down the most, but KS ratings were also 3 points lower to 361.
The national spring wheat crop was 96% emerged and 8% headed as of 6/13. NASS saw spring wheat ratings at 37% good/ex for a Brugler500 score of 304. That was a national drop of 3 points, but ND conditions were 9 points worse to 283 on the index. ND typically makes up more than half the crop.
USDA reported 480,341 MT of wheat was shipped in the... Read more