
Midday wheat quotes have pulled back from their highs, but are still trading in the black to extend their Tuesday runnup. CBT SRW futures are trading fractionally to 4 cents in the black. Front month KC HRW prices are up 1 to 4 cents at midday. Spring wheat is gaining 2 to 4 1/2 cents.
Reports from the MGX stated that spring wheat receipts were down 346k bu to 16.855 mbu as of 9/18 for Minnesota and Wisconsin. Another 1.361 mbu were present in Michigan.
Manitoba reported the spring wheat harvest at 65% complete as of 9/18. That trails their usual 71% harvest pace. The Ukrainian Ag Minister expects 22/23 wheat production will be between 16-18 MMT. Ukraine’s UkrAgroConsult reported the 23/24 wheat planting reached 9% complete – noting a potential 17.4% area reduction.
Dec 22 CBOT Wheat is at $8.98 1/4, up 4 1/2 cents,
Mar 23 CBOT Wheat is at $9.10 1/4, up 3 cents,
Cash SRW Wheat is at $8.31 1/4, up 4 1/2 cents,
Dec 22 KCBT Wheat is at $9.65 1/2, up 2 1/2 cents,
Cash HRW Wheat is at $9.23 1/4, up 2 1/2 cents,
Dec 22 MGEX Wheat is at $9.61, up 1 3/4 cents,