
KC wheat futures are down by as much as 4% through Monday’s midday with 30 to 35 cent losses. SRW prices are 3.5% to 3.8% in the red with March 27 cents in the red. Spring wheat futures are 18 3/4 to 26 cents lower.
NOAA’s 7-day QPF shows rainfall for the South with as much as 5” along the Gulf coast of TX. Most of TX and Oklahoma will see at least an inch of precip accumulation.
USDA’s weekly Export Inspections report showed 334,217 MT of wheat was shipped during the week that ended 1/19. That was up 2.6% from last week, but was 83k MT below the same week last year. USDA had HRW and white wheat each over 100k MT for the week. South Korea was the week’s top destination. The weekly report marked the season’s accumulated export at 12.762 MMT through 1/19, trailing last year’s pace by 477k MT.
Mar 23 CBOT Wheat is at $7.14, down 27 1/2 cents,
May 23 CBOT Wheat is at $7.22 1/4, down 26 3/4 cents,
Cash SRW Wheat is at $6.59, down 27 3/8 cents,
Mar 23 KCBT Wheat is at $8.12 1/4, down 35 3/4 cents,
Cash HRW Wheat is at $7.77 1/8, down 35 3/4 cents,
Mar 23 MGEX Wheat is at $8.85 1/2, down 27 1/4 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. For more information please view the Barchart Disclosure Policy here.