- U.S. wheat futures closed higher for the third consecutive week. A weaker U.S. dollar and strength in corn markets due to harvest delays supported wheat. Gains were limited by improving winter wheat prospects after weekend rains helped replenished soil moisture. KCBT December wheat gained 24 cents to close the week at $6.02/bu. CBOT added 18 cents to $5.16/bu and MGEX added 17 cents to $5.70/bu. CBOT December corn gained 14 cents to $3.48/bu and CBOT November soybeans added 29 cents to $9.52/bu.
- Current HRS price indications are for Northern Spring only. Premiums for Dark Northern Spring will vary. SRW indications are for a minimum falling number of 250. Higher minimum specifications will carry a premium.
- USDA reported U.S. winter wheat planting as 68 percent complete as of October 12, just above the five-year average of 67 percent. SRW planting lags in states where the harvest of fall crops has been slowed by wet weather.
- According to USDA’s weekly Export Sales Report, net sales of 454,000 metric tons for delivery in the 2014/2015 marketing year were within trade expectations of 350,000 to 550,000 MT. Total known outstanding sales and accumulated exports, through October 9, 2014 were 14.4 MMT. USDA forecasts 2014/15 U.S. wheat exports (including donations) to reach 25.2 MMT.
- The Baltic Panamax Index closed unchanged from last Friday at 865.
- The US Dollar Index closed lower this week at 85.30, down from 86.05.
(Source – http://www.farms.com/news/us-wheat-crop-price-report-current-hrs-price-indications-are-for-northern-spring-only-83015.aspx)