Wheat prices are currently up 5-7 cents in all three domestic classes for the Wednesday day session. Winter wheat futures worked lower on Tuesday, and closed with some double digit losses. Dec through May SRW ended 10 to 11 3/4 cents weaker as the other front months closed down by 7 to 9 cents. HRW futures ended the session 7 to 8 1/2 cents weaker. MGE HRS wheat futures ended the day off the lows and fractionally mixed.
The UN’s spokesperson said the Moscow meeting on Russian and Ukrainian exports was positive and constructive – citing the joint deal between Russia, Turkey, Ukraine, and the UN.
Ukraine’s Ag Ministry reported October grains exports were down just 2.4% yr/yr through 10/17, citing cooperation via the grain export corridors. Inspections in Istanbul Turkey picked up pace through the weekend, easing a backlog that had been estimated at nearly 100 vessels. Ukraine has planted 58% of the expected winter grain area, including 2.5m HA of wheat (61% of expected).
Dec 22 CBOT Wheat closed at $8.49 1/2, down 11 1/2 cents, currently up 6 3/4 cents
Mar 23 CBOT Wheat closed at $8.67 3/4, down 11 cents, currently up 6 3/4 cents
Cash SRW Wheat was $7.84 on Tuesday, down 11 1/2 cents,
Dec 22 KCBT Wheat closed at $9.44 1/2, down 7 1/2 cents, currently up 7 3/4 cents
Cash HRW Wheat was $9.03 7/8 on Tuesday, down 7 1/2 cents,
Dec 22 MGEX Wheat closed at $9.56, up 3/4 cent, currently up 6 cents
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
/NVIDIA%20Corp%20logo%20on%20phone%20and%20AI%20chip-by%20Below%20the%20Sky%20via%20Shutterstock.jpg)
/Broadcom%20Inc%20logo%20on%20building-by%20Poetra_%20RH%20via%20Shutterstock.jpg)
/Oracle%20Corp_%20logo%20on%20phone%20and%20stock%20data-by%20Rokas%20Tenys%20via%20Shutterstock.jpg)