The wheat market is showing a mixed mostly higher but futures were working back towards break even so far on Tuesday. They closed out the Monday session higher. CBT SRW futures were up 1 ¼ to 6 cents across the board. KC wheat contracts were mostly steady to 3 ¼ cents higher at the close. Spring wheat futures settled with contracts firm to 2 cents in the green.
Weekly wheat exports were reported at 472,327 MT for the week of 2/09. That is 118k MT lower on the week, but is up 13k MT from the same week last year. HRW and HRS made up 70% of the week’s total. USDA also added 55k MT of shipments to past reports for a MY total of 14.286 MMT, now trailing last year by 1.5%.
The Texas state Crop Progress report showed that 11% of the state’s winter wheat crop was rated gd/ex as of February 12, down 2% on the week. That translates to a Brugler500 index of 231, 4 points lower vs. last week.
Mar 23 CBOT Wheat closed at $7.92, up 6 cents, currently down 2 cents
May 23 CBOT Wheat closed at $8.00 3/4, up 5 cents, currently down 1 cents
Cash SRW Wheat was $7.32 1/8, up 5 3/4 cents,
Mar 23 KCBT Wheat closed at $9.12 1/4, up 3 1/4 cents, currently up 1/2 cent
Cash HRW Wheat was $8.75 3/8, up 3 1/4 cents,
Mar 23 MGEX Wheat closed at $9.30 3/4, up 1/2 cent, currently up 2 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.
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