PRB Fundamentals: Wheat Market (week ending 4.8.16)

Last week’s USDA report should have been most friendly to the Wheat Complex, because the largest acreage reduction was in the Wheat, but the fact remains like in the Soybeans and the Corn there is still a lot of it in the country. This week winter wheat conditions improved to 59% Good or better compared with 42% a year ago. The Hard Red Wheat Conditions remained the same from last fall. Finally the exports for the wheat were disappointing this week net sales reductions of 58,100 MT for 2015-16 and sales of 159,300 MT were below expectations.

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