Front month wheat futures are mostly firm into Wednesday’s day session, with gains in the winter wheats and light losses for Spring wheat. Chicago wheat futures ended the Tuesday session 1 to 2 cents in the red. Prices had rallied double digits initially. KC wheat futures stayed in the black, but gains were limited to 1 1/4 to 4 1/2 cents at the close. Front month spring wheat prices were mixed at the bell, with a 2 1/2 cent gain for March, to a 3 1/4 cent loss by Sep.
USDA reported 280,554 MT of wheat was inspected for export during the week that ended 12/22. That was down 23k MT wk/wk, and was 34k MT lighter than the same week last year. USDA had the season’s total exports at 11.72 MMT, compared to 11.97 MMT for last year at this time.
Egypt’s GASC tender for Feb 1-15 delivery is to be filled by two 40k MT cargoes of Russian wheat according to trade sources, with Russian offers reportedly at $339/MT.
Mar 23 CBOT Wheat closed at $7.74 1/2, down 1 1/2 cents, currently up 2 1/2 cents
May 23 CBOT Wheat closed at $7.81, down 1 1/2 cents, currently up 2 1/2 cents
Cash SRW Wheat was $7.15 on Tuesday, down 1 1/2 cents,
Mar 23 KCBT Wheat closed at $8.79 1/4, up 4 1/2 cents, currently up 1 1/4 cents
Cash HRW Wheat was $8.43 ¾ on Tuesday, up 4 1/2 cents,
Mar 23 MGEX Wheat closed at $9.34 1/4, up 2 1/2 cents, currently down 1 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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