Wheats Trading Mostly in Black

The midday winter wheat quotes are in the black. CBT SRW is up by 1 1/2 to 3 cents. KC wheat is gaining as much as 6 cents so far. Spring wheat futures are down at midday with fractional to 1 1/2 cent weakness. 

Weekly wheat export inspections were 320,473 MT for the week that ended 1/12. That was up 111k MT from last week, but was down 66k MT from the same week last year. Soft white was the top variety exported for the week with 130k MT of the total. The Philippines and China were the top destinations for the week. 

Turkey booked +550k MT of wheat via tender, likely to be sourced via the Black Sea. Japan booked 89,735 MT of wheat from U.S. and Canada. Both South Korea’s MFG and NOFI booked 130k MT of feed wheat via an international tender. 

Mar 23 CBOT Wheat  is at $7.46 1/2, up 2 3/4 cents,

May 23 CBOT Wheat  is at $7.53 1/4, up 1 1/4 cents,

Cash SRW Wheat  is at $6.91 1/2, up 4 1/8 cents,

Mar 23 KCBT Wheat  is at $8.47 1/2, up 3 3/4 cents,

Cash HRW Wheat  is at $8.12 3/8, up 3 3/4 cents,

Mar 23 MGEX Wheat  is at $9.10 1/4, down 2 cents,