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News specific to inform, educate and assist ag retailers is delivered in this e-newsletter weekly each Thursday. Circulation is limited to only ag retailer/distributor management and employees.

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Market Commentary

Afternoon Comments 06/19


Wheat futures turned decisively higher Wednesday, with weather driven gains being exaggerated by a reduced acreage forecast. Talk that excessive moisture will curtail North Dakota acreage apparently supported prices, especially after a late report from a Memphis-based consultancy pointed in that direction. Forecasts for surprisingly hot, dry weather over the central U.S. later this month likely boosted futures as well. July CBOT wheat leapt 19.5 cents to $7.07/bushel at its Wednesday afternoon settlement, while July KCBT wheat rocketed 20.5 cents higher to $7.3975, and July MGE futures soared 14.5 to $8.135.
Market Info

All wheat stocks dip slightly from 2011

USDA  |   September 28, 2012
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According to the USDA's latest Grain Stocks report, all wheat stored in all positions on September 1, 2012 totaled 2.10 billion bushels, down 2 percent from a year ago. On-farm stocks are estimated at 573 million bushels, down 9 percent from last September. Off-farm stocks, at 1.53 billion bushels, are up 1 percent from a year ago. The June - August 2012 indicated disappearance is 908 million bushels, up 27 percent from the same period a year earlier.

Durum wheat stocks in all positions on September 1, 2012 totaled 67.8 million bushels, up 6 percent from a year ago. On-farm stocks, at 43.1 million bushels, are up 23 percent from September 1, 2011. Off-farm stocks totaled 24.7 million bushels, down 14 percent from a year ago. The June - August 2012 indicated disappearance of 39.7 million bushels is up 79 percent from the same period a year earlier.


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