Idaho Farm Bureau's Podcast
Wheat bullish today-IFBF market report
Apr 18, 2018
Idaho Farm Bureau
Wheat futures are trading 2 cents higher in the SR winter and HR Spring futures this morning. KC HR Winter is up 5 cents. They settled with 9 cent gains in the CBT and KC contracts yesterday, with MPLS up 3 to 5 cents. Forecasts call for rain later this week in the Southern Plains, but the total area and amounts have backed off slightly. All wheat export sales for old crop are expected to total up to 350,000 MT in this morning’s USDA report, with the average trade guess for new crop at 200,000 MT. Taiwan’s deal for 93,000 MT of US wheat closes today. The USDA ag attach in Australia estimates that the crop there will rise to 24 MMT, with Canada coming in at 30 MMT.