Wheat futures on the Chicago board are up by 3 to 4 cents so far. KC wheat is in the red with midday weakness of as much as 4 cents. MPLS is also lower so far, giving back 2 3/4 to 4 1/4 cents.Â
Weekly Crop Progress data from NASS had 87% of the 23/24 winter wheat crop planted. That was up 8% points through the week and is 2% points ahead of the average pace. Emergence reached 62% as of 10/30, compared to 66% on average. That was enough for the first preliminary ratings – at 281 on the Brugler500 Index. Last year’s rating was 322 on the Brugler500, as 281 is the lowest initial score since 1987. Â
IKAR estimated the Russian 22/23 wheat crop at 101 MMT with 50 MMT of exportable supply.
Buenos Aries Grains Exchange left their Argentine wheat forecast for 22/23 wheat at 15.2 MMT.Â
Dec 22 CBOT Wheat  is at $8.91 1/4, up 9 cents,
Mar 23 CBOT Wheat  is at $9.07 3/4, up 8 1/2 cents,
Cash SRW Wheat  is at $8.24 3/8, up 9 1/4 cents,
Dec 22 KCBT Wheat  is at $9.80 1/4, up 1 1/2 cents,
Cash HRW Wheat  is at $9.39 1/8, up 2 1/4 cents,
Dec 22 MGEX Wheat  is at $9.80 1/2, down 3/4 cent,
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.
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