ADM Wheat Comments

ADM Wheat Comments
ADM Wheat Comments

WHEAT

Wheat futures closed mixed. Lower financial and energy markets may have triggered some fund short covering in wheat. Wheat futures are oversold and due for a correction. Estimates of an increase in World 2019 wheat production and end stocks could limit the upside in prices. Rains forecast for US south plains could help crops there. Wet/cold weather could delay US spring wheat plantings. Weekly US wheat export sales were near 15 mil bu. Total commit is near 931 mil bu (+76) vs 855 last year. USDA goal is 945 (+44) versus 901 last year. USDA estimates World wheat trade near 6,550 mil bu.

Wheat Wkly Export Sales Apr 25

 

 

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