The Minneapolis Grain Exchange (MGEX) announced this week that the CFTC had approved changes in their hard red spring wheat delivery specifications. Here are the changes:
Wheat does not have to be U.S. origin. Storage charges will go from $.05 per month to $.07 per month. Maximum vomitoxin content will be 2 ppm. Up to 3 ppm will be accepted with a 20 cent per bushel discount.
The origin change will become effective with the September 2012 contract. The storage and vomitoxin changes will be effective with the May 2013 contract.The most important change is that delivery of non-U.S. origin wheat will now be allowed. This is an obvious, and correct, reaction to the elimination of the Canadian Wheat Board's monopoly...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
