Wheat Faded into Close

Chicago futures drug the other domestic wheat markets lower into the close for the day. SRW prices were down by 4 3/4 to 9 1/2 cents in the front months. KC wheat futures faded for fractional to 1 1/4 cent losses on the day. Spring wheat prices were also mostly lower by the bell, with losses of as much as 3 3/4 cents. 

The Crop Progress report from NASS showed 40% of the winter wheat crop was planted as of 10/2. That compares to 31% last week and 44% on average. In KS, 30% of the 23/24 crop was in the ground. Emergence was marked at 15% per the weekly report. That is up from 9% last week and just 2% points behind the average. 

According to the Ukrainian Ag Ministry, wheat planting for the 22/23 campaign reached 1.1m HA or 27% of the expected area. All grains were 26% planted as of 10/3. The Ukraine’s Trade Ministry reported September wheat shipments were 1.75 MMT, adding to the 900k MT August export. MYTD exports have reached 3 MMT. Total grain exports for the month of Sep were down 23.6% yr/yr. 

Dec 22 CBOT Wheat  closed at $9.03, down 9 cents,

Mar 23 CBOT Wheat  closed at $9.15 1/2, down 9 1/2 cents,

Cash SRW Wheat  was $8.35 1/1, down 6 7/8 cents,

Dec 22 KCBT Wheat  closed at $9.88 3/4, unch,

Cash HRW Wheat  was $9.47 5/8, down 1/4 cent,

Dec 22 MGEX Wheat  closed at $9.76 1/4, down 3 3/4 cents,