Wheat futures look to start the new month with losses as the midday quotes show weakness. SRW prices in Chicago are down 4 to 9 1/2 cents so far. KC HRW prices are working 5 to 7 3/4 cents in the red in the front months. MPLS spring wheat is giving back 4 3/4 to 6 1/2 cents in the front months.Â
USDA’s Export Sales report showed 155,534 MT of wheat was sold during the week that ended 11/24. Estimates going in were at least 300k MT, and last week was over 500k MT. Algeria was the top buyer with 58.3k MT. The week’s exports were 271,230 MT for a season total of 9.495 MMT. That trails last year by 3.4%, and is broken out with 2.8 MMT of HRW, 2.77 MMT of HRS, 2.146 MMT of white, 1.68 MMT of SRW and 96.5k MT of durum.Â
EU wheat exports reached 13.89 MMT as of 11/27. That was 3% above last season’s pace.Â
Dec 22 CBOT Wheat  is at $7.62, down 9 1/2 cents,
Mar 23 CBOT Wheat  is at $7.88 3/4, down 6 3/4 cents,
Cash SRW Wheat  is at $7.29, up 10 1/4 cents,
Dec 22 KCBT Wheat  is at $9.06 1/2, down 6 3/4 cents,
Cash HRW Wheat  is at $8.58 5/8, down 13 3/4 cents,
Dec 22 MGEX Wheat  is at $9.52, down 4 3/4 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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