Front month wheat futures are trading lower with 0.5% to 2.7% losses across the classes. KC HRW futures are down the most with 1.7% to 2.7% losses, led by a 24 ½ cent loss in the March contract. SRW prices are working 11 1/4 to 13 1/2 cents in the red so far. Spring wheat futures are trading a nickel to a dime in the red.
USDA’s weekly Export Inspections data showed 373,429 MT of wheat was exported during the week that ended 2/16. The full season export figure is 14.66 MMT as of 2/16, trailing last year’s 15.08 MMT pace.
Turkey is tendering for 790k MT of milling wheat.
Mar 23 CBOT Wheat is at $7.36, down 14 1/2 cents,
May 23 CBOT Wheat is at $7.48 3/4, down 14 cents,
Cash SRW Wheat is at $6.77 3/4, down 14 1/4 cents,
Mar 23 KCBT Wheat is at $8.79 1/2, down 24 3/4 cents,
Cash HRW Wheat is at $8.41 7/8, down 23 3/8 cents,
Mar 23 MGEX Wheat is at $9.14 1/2, down 10 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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