The new year of wheat trading begins with double digit losses across the board through midday. CBT SRW is down 20 12to 21 1/4 cents. KC HRW is falling by 2.6% on +25 cent losses. MPLS spring wheat prices are giving back 13 1/4 to 21 1/2 cents so far.
Weekly Inspections data showed 85,672 MT of wheat was shipped during the week of 12/29. That was down by 228k MT from the week prior and was 145k MT under the same week last year. USDA reported 11.84 MMT of wheat was shipped for the season through 12/29 – down by 3% from last year’s pace.
Data from Ukraine’s Ag Ministry showed 8.4 MMT of wheat was shipped MYTD through 1/2/23. That trails 21/22’s pace by 48%.
Mar 23 CBOT Wheat is at $7.71, down 21 cents,
May 23 CBOT Wheat is at $7.78, down 20 3/4 cents,
Cash SRW Wheat is at $7.08, up 27 7/8 cents,
Mar 23 KCBT Wheat is at $8.63 1/4, down 24 3/4 cents,
Cash HRW Wheat is at $8.27 3/4, down 30 3/8 cents,
Mar 23 MGEX Wheat is at $9.17 1/4, down 21 1/2 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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