Midday wheat prices are down by 8 3/4 to 9 cents in Chicago. HRW futures are down 3 to 6 cents so far. MGE HRS prices are working 1 1/2 to 3 3/4 cents.
USDA’s weekly Crop Progress data had 96% of the 23/24 winter wheat crop planted as of 11/13. That is up 4% points from last week and is 3% points ahead of average. Emergence reached 81%, matched with the average. Winter wheat conditions improved to 32% good/ex for a Brugler500 score of 291, from 286 last week and 326 last year.
USDA weekly wheat export data showed 76,408 MT of shipments for the week that ended 11/10. That was down 106k MT from last week, and was 323.8k MT lighter yr/yr. Weekly data had 9.905 MMT shipped for the season through 11/10 – compared to 10.32 MMT at the same time last year.
South Korea’s MFG booked 55k MT of feed wheat via tender, believed to ave been filled by Australia. Japan booked 94.6k MT of wheat from U.S. and Canada via a regular tender. Japan is on the market for 70k MT of feed wheat and 40k MT of feed barley. Saudi Arabia bought more than 1 MMT of optional origin wheat in +60k increments from $374 CIF to $392 CIF over the weekend, with delivery from April to June.
Dec 22 CBOT Wheat is at $8.09, down 9 1/2 cents,
Mar 23 CBOT Wheat is at $8.29 1/4, down 9 cents,
Cash SRW Wheat is at $7.42 1/4, down 9 1/2 cents,
Dec 22 KCBT Wheat is at $9.53 1/4, down 3 cents,
Cash HRW Wheat is at $9.12 1/2, down 3 cents,
Dec 22 MGEX Wheat is at $9.60, down 3 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.
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