3/26/15 AM Wheat trade is 17 cents lower at midday with a firmer dollar and easing of weather concerns, which is encouraging liquidation of current longs. Export sales were disappointing. The average trade guess for all weat planted number is at 55.8 million acres. The March 1 wheat stocks are expected to be at 1.14 billion versus 1.057 billion a year ago. The U.S. stock market indices are lower at midday with the Dow futures down 25 points. Yhe dollar index is a full 1 point higher. Energies are higher with crude up $1.10.
3/26/15 PM Chicago down 4%, biggest drop since July 2014. Massive fund selling, after they just recently got out of a big short they are back in again. Weather improvements in Russia and Kansas pressured grain along with a bump in the value of the U.S. dollar. Oil up over 2$/barrel. Looks as though more emphasis is being placed on the quarterly stock report out 3/31 and lousy export inspections (today's report lowest weekly for the year) than on the prospective plating numbers.