Spring Wheat Futures Market News and Commentary
Friday wheat futures are lower at midday, with MPLS leading showing the biggest drops. The USDA updated the weekly export sales for the week ending 11/07, with wheat totaling 238,620 MT. Unshipped sales are 25.9% below the same week last year. The USDA reported 453,591 MT of wheat shipments for the same week, pushing the MY accumulated shipments to 11.219 MMT (26.87% above last year’s pace). HRW made up 18.47% of the weekly shipments, down from 38% the previous week. SRW, with a 391% increase wk/wk, made up a 13.71% share of weekly exports for the week ending 11/07. Similarly white wheat saw 268.79% wk/wk increase in shipments, white wheat weekly exports occupied a 33.39% share of all wheat weekly exports. HRS wheat maintains a steady 26.77% share of accumulated wheat exports.
DEC 19 CBOT Wheat is at $5.03 1/2, down 4 1/4 cents,
DEC 19 KCBT Wheat is at $4.18, down 4 1/4 cents,
DEC 19 MGEX Wheat is at $5.06 3/4, down 6 cents
-- p... Read more