Parent Category: Commodity Price Category: Futures

CBOT Chicago Wheat Futures; Milling Wheat - Asx, Australia; Euro Wheat - Budapest, Hungary; Futures MATIFF, Paris, France - milling wheat;

CBOT Chicago Wheat Futures Mar-12

AgriCharts Market Commentary

Wheat
Wheat futures closed higher on all 3 exchanges with MGEX lagging the other two. DJ survey average estimates showed 831 million bushels expected 2011/12 ending stocks. A class action lawsuit is likely being filed against the Canadian government for the assets of the Canadian Wheat Board (Reuters). CBOT position limits will be doubled from Jan 17th which would allow index funds to hold more and could affect wheat contracts at the other exchanges (Reuters). The average trade estimate for US 2012 winter wheat acres is near 40.9 million, vs. 40.6 million last year. The average guess for HRW was 29.4 million acres vs. 28.5 last year. SRW was 7.8 mil vs 8.6 last year. The USDA Export Inspections report this morning showed 10.784 million bushels inspected for export for the week ending January 5th with a total increase of 10.839 million bushels from last week after revisions to prior data. This is 14.937 million bushels less shipped out than for the same week last year. YTD shipments are now 75 million bushels below last year at this time. Mar 12 CBOT Wheat closed at $6.41 3/4, up 17 cents, Mar 12 KCBT Wheat closed at $6.98, up 18 cents, Mar 12 MGEX Wheat closed at $8.09 3/4, up 8 3/4 cents

10/01/2012 12.00 am Kiev

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