Spring Wheat Fading through Midday

Wheat prices are mostly higher with winter wheats up through midday. Spring wheat is fractionally to 5 3/4 cents weaker through Wednesday’s midday. Chicago prices are trading 4 to 5 1/4 cents in the black. KC wheats are 1 1/2 to 5 cents higher as well. 

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 export at 11.72 MMT, compared to 11.97 MMT for last year. 

Data from the Ukrainian Ag Ministry has wheat exports at 8.2 MMT for the season, a 48% drop from last year’s pace. All grain shipments trail last season by 30% through 12/28. 

Egypt’s GASC tender for Feb 1-15 delivery is to be filled by two 40k MT cargoes of Russian wheat.  

Mar 23 CBOT Wheat  is at $7.78 1/4, up 3 3/4 cents,

May 23 CBOT Wheat  is at $7.85 1/4, up 4 1/4 cents,

Cash SRW Wheat  is at $7.19 7/8, up 3 3/4 cents,

Mar 23 KCBT Wheat  is at $8.81, up 1 3/4 cents,

Cash HRW Wheat  is at $8.45 1/2, up 1 3/4 cents,

Mar 23 MGEX Wheat  is at $9.28 1/4, down 6 cents,