Spring Wheat Futures Market News and Commentary
Turnaround Tuesday has domestic wheat futures in the black at midday. SRW wheat futures are back up by 4 1/4 to 7 cents at midday. The national average wheat cash price (SRW) from cmdtyView is $4.79 1/2; which is 5 1/2 cents stronger on the day. The SRW to corn premium (Sept) is $1.85 1/4 /bu, which is back up by a nickel after having fallen 37 cents since the start of the month. KC HRW futures are recovering 3 3/4 to 6 3/4 cents. And MGE wheat is up by as much as 4 cents at midday. NASS reported 90% of this year’s winter wheat harvest was complete, the average is 93% and trade was expecting 91%. Spring wheat harvest was 10% behind the 5-yr average, with the crop 15% harvested as of August 9. Pakistan is tendering for 1.5 MMT of optional origin wheat. Egypt’s GASC purchased 120k MT of Russian wheat for last half September and first half October.
Sep 20 CBOT Wheat is at $4.98, up 7 cents,
Sep 20 KCBT Wheat is at $4.20 3/4, up 6 3/4 cents,
Sep... Read more