Maltby Marketing News for March 5
March 5, 2018
Kansas Association of Wheat Growers
Hello Kansas Wheat.
Well, well, well…the futures rally extended! Even after Friday’s setback (what’s the opposite of “coming up for air”?), KC wheat futures are up 50c or so for the week.
Maybe all it took was for me to strongly recommend getting 25% of your expected production sold.
If so, I would rather you just said “Thank you” …
I admit if it’s a “demand” thing, weekly export sales are not giving us that clue… FAS weekly report says:
This summary is based on reports from exporters for the period February 16-22, 2018.
Wheat: Net sales of 191,100 metric tons for delivery in marketing year 2017/2018 were down 42 percent from the previous week and the prior 4-week average.
Hmm. Doesn’t sound like it’s a demand thing. So, we’ll go with it’s a supply thing…
Which means, at this time of the year, it must be the weather, somewhere…
Source: Kansas Association of Wheat Growers