The wheat futures market is trading firm in Chicago but lower in KC and Minneapolis. The gains for SRW are limited to a penny across the front months. HRW futures are down 3 ¼ to 5 ¼ cents, save for a 7 cent gain in the Sep contract. Spring wheat futures are trading 3 ½ to 8 ½ cents weaker at midday.
USDA reported 329,141 MT of wheat was sold for export during the week that ended 8/24. That was down from 405k MT LW and was 34% lower yr/yr. The trade was looking for between 250,000 MT and 700,000 MT ahead of the report. By class, SRW and HRS led the sales with 59% and 45% respectively.
Egypt’s GASC reportedly booked 240k MT of wheat in its import tender for mid-October and November shipment, split 50/50 French and Romanian.
Sep 23 CBOT Wheat is at $5.77 1/4, up 1/2 cent,
Dec 23 CBOT Wheat is at $6.07, unch,
Cash SRW Wheat is at $5.01 3/8, down 3 cents,
Sep 23 KCBT Wheat is at $7.26 1/4, up 7 cents,
Cash HRW Wheat is at $6.74 3/4, up 3 3/4 cents,
Sep 23 MGEX Wheat is at $7.41 1/2, down 7 1/4 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
