Prices subject to change, please call the office to confirm. No cash market Friday PM.
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3/10/14 AM "WHEAT: There are no changes to the 2013/14 U.S. all wheat supply and use projections this month. A 15-million-bushel increase in projected Hard Red Spring wheat exports is offset by a decrease for Soft Red Winter wheat, with both changes reflecting the pace of sales and shipments. Projected ending stocks for both classes are adjusted accordingly. The projected season-average farm price for all wheat is raised 10 cents on the bottom end of the range to $6.75 to $6.95 per bushel based on recent strength in prices. Global 2013/14 wheat supplies are raised slightly with a 0.8-million-ton increase in world production. Production is raised 1.1 million tons for India and 0.5 million tons for Australia based on the latest government reports. China is lowered 0.3 million tons, also based on the latest official indications. Production is lowered for Uruguay and Paraguay, down 0.3 million tons and 0.2 million tons, respectively, reflecting dry growing season conditions in both countries and early season freeze damage in Paraguay that also reduced yields. Strong demand in the Middle East and North Africa boosts 2013/14 world wheat imports 3.0million tons. Imports are raised for Iran, Saudi Arabia, Morocco, Syria, Algeria, Iraq, and Turkey. Exports are raised for the European Union, Russia, Serbia, and Turkey. European Union exports are raised 1.5 million tons reflecting the strong pace of licenses with higher corn imports and feeding freeing up more wheat for export. For Russia, higher wheat imports and reduced wheat feeding support a 1.0-million-ton increase in wheat exports. Export business has remained strong for both countries well into the second half of the 2013/14 marketing year as prices remain attractive for buyers in the Middle East and North Africa. World wheat consumption is raised slightly for 2013/14 with increased use for India, Iran, Australia, Iraq, and Morocco more than offsetting lower feed use for the European Union and Russia, and for South Korea, where wheat imports are lowered. Wheat feeding is raised for Australia as drought reduces sorghum supplies and boosts the use of grain in livestock rations. Global wheat ending stocks are nearly unchanged.."
3/10/14 PM The latest USDA S&D numbers held no substantive surprises. Some Corn ending stocks were cut 25 million to 1.456 billion. Exports were raised by a like amount. World ending stocks increased 1.17 million Mt to 158.47 million Mt. Wheat ending stocks were left unchanged at 558 million. SRW up 15 million and 15 million less is the DNS column. World wheat carryout virtually unchanged. Bean carryout was hacked by 5 million bushels. SWW's S&D numbers were left unchanged. Reportedly heavy 'Chinese bean cancelations' rained on the bulls parade. 'Da bull' needs daily nourishment. SWW basis undergoing a shift. The next major report will come out on March 31.