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Market Commentary

Afternoon Comments 05/23


The fact that wheat futures had not performed as well as corn and beans lately may help explain their relatively strong reaction to the weekly USDA Export Sales report. Both old and new crop wheat sales, at 239,000 and 713,600 tonnes, respectively, topped pre-report expectations, which then seemed to boost futures prices. The big U.S. dollar decline may also have encouraged buying. July CBOT wheat futures surged 14.75 cents to $7.0325/bushel at its Thursday settlement, while July KCBT wheat advanced 10.5 cents to $7.545, and July MGE futures gained 5.5 cents to $8.1325.
Market Info

Key Reports/Outlook

Projected 2012/13 wheat price at record high

05/14/2013 5:25:00 PM

The projected 2012/13 season-average farm price for wheat is narrowed to a point estimate of a record... Read more.

USDA: U.S. Winter wheat conditions mixed

05/14/2013 3:45:00 PM

The USDA, National Agricultural Statistics Service (NASS) May 6 Crop Progress report indicated that 32... Read more.

U.S. exports down in 2013/14, reduced for 2012/13

05/14/2013 2:15:00 PM

U.S. wheat exports in 2013/14 are projected at 25.5 million tons, down 2.5 million from the forecast... Read more.

World wheat trade nearly unchanged

05/14/2013 1:20:00 PM

World wheat trade for the July-June international trade year in 2013/14 is projected at 143.0 million... Read more.

Crop markets exhibit considerable strength Thursday morning

04/25/2013 11:20:21 AM

Corn futures rose Thursday morning despite disappointing results on the weekly Export Sales report.... Read more.

Feed and residual wheat use down in 2012-2013

04/12/2013 3:31:49 PM

Domestic use of wheat for 2012/13 is projected at 1,386 million bushels, down 14 million bushels... Read more.

World wheat production unchanged this month

04/12/2013 2:35:00 PM

While world wheat production for 2012/13 is virtually unchanged this month at 655.4 million tons,... Read more.

Prospective 2013 wheat plantings up slightly from 2012 seedings

04/12/2013 2:20:00 PM

All wheat plantings for 2013 in the National Agricultural Statistics Service (NASS) March 28 Prospective... Read more.

Producers still waiting for wheat conditions to improve

04/08/2013 3:35:21 PM

The USDA’s latest Crop Progress report, released on Monday, showed that drought is still taking... Read more.

Wheat hangs on as April’s rollercoaster weather continues

04/01/2013 4:26:16 PM

The nation’s wheat crop has been struggling against cold spring weather, and the USDA’s first... Read more.

USDA: Corn planted acreage up slightly from last year

03/28/2013 11:15:38 AM

The USDA reported in its annual Prospective Plantings report that corn growers intend to plant 97.3... Read more.

USDA: Winter wheat conditions mixed

03/12/2013 4:10:00 PM

Winter wheat conditions at the end of February 2013 are not as favorable as they were last year for... Read more.

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