Wheat Pit Dec '17 (WZ17)
Wheat (Pit) Futures Market News and Commentary
The wheat complex were under pressure across the three markets to kick off the Monday session. Chicago SRW contracts were 6 to 8 1/4 cents in the red at the close. KC HRW futures saw 10 1/2 to 11 1/2 cent losses across the board. MPLS spring wheat were down 3 ¾ to 10 ¼ cents on the day.
NASS Crop Progress data showed 40% of the US winter wheat crop harvested by Sunday, 16% ahead of normal. Conditions were down 1% to 26% gd/ex, with the Brugler500 index 3 points lower to 264. The spring wheat crop was 16% headed, matching the 5-year average pace. Spring wheat conditions were 54% gd/ex, down 1%, with the Brugler500 slipping 1 point to 351.
Monday morning’s Export Inspections report showed wheat shipments of 393,150 MT (14.45 mbu) in the week of 6/18. That was up 9.79% from the week prior and more than 54.2% above the same week last year. The Philippines was the largest destination of 103,317 MT, with 83,478 MT shipped to Japan and 43,001 MT headed to South Korea. The marke... Read more
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