Wheat Market Outlook and Prices

The Wheat Market Outlook is provided by Mercantile Consulting Venture Inc.

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World Wheat Overview:

2017/’18 World Wheat Overview:  USDA WASDE Report February 8th 2018

  • 2017/18 World Wheat production has been increased to 758.25 million mt, up from 757.01 million mt in the January WASDE report.
  • World wheat supplies have also been increased to 1,011 million mt, up from last month’s 1010 million mt due to projections for production increases in Argentina and the Ukraine.
  • World ending wheat stocks have been projected at 266.10 million mt down from January’s estimate of 268 million mt.

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Wheat Market Outlook

Significant events:

  • The past week was marked by some major fund short covering, as funds were previously holding near record short positions. Funds were estimated to have bought back 50,000 contracts (250 million bushels) of corn in Tuesdays and Wednesdays trade, and also engaged in some wheat short covering early in the week. However, speculative hedge funds increased their short position by 1 million mt from Feb 6th – Feb 9th and funds still remain short on both corn and wheat.

     

     

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Primary Elevator Bids

Due to a temporary issue, we are unable to include the tables for Primary Elevator Bids, Grade Spreads and FOB and Basis Prices on the web page. Please open the PDF file below for this information.

Primary elevator bids data source: PDQ

 

adobe-acrobat-pdf-file-512 CLICK HERE for the full report in PDF.

For the archived wheat market outlook and price reports, please CLICK HERE.