Wheat futures are trading with double digit losses, led by a 2.4% loss in May HRW. The other KC futures are down by 15 1/2 to 19 1/4 cents. Chicago SRW is trading 9 1/2 to 15 3/4 cents lower in the front months. MPLS spring wheat prices are 11 to 17 cents in the red so far.Â
The weekly Export Inspections data showed 591,725 MT of wheat was shipped during the week that ended 2/23. That was up from 374k MT last week and from 430k MT during the same week last year. The shipment was broken out with 215k MT of spring wheat, 195k MT of HRW, and 135k MT of white. Destinations were spread out with over 50k MT shipped to Iraq, Japan, South Korea, Mexico, and the Philippines. The USDA had 15.252 MMT of accumulated wheat exports, trailing last year’s pace by 258k MT through 2/23.Â
Iraq reportedly booked 250k MT of wheat from Australia after a restricted international tender. Turkey’s TMO issued an international tender for 790k MT of wheat. Jordan is seeking 120k MT via tender.Â
Mar 23 CBOT Wheat  is at $6.95 3/4, down 12 1/2 cents,
May 23 CBOT Wheat  is at $7.09 1/2, down 12 1/4 cents,
Cash SRW Wheat  is at $6.40 3/4, down 12 1/2 cents,
Mar 23 KCBT Wheat  is at $8.22 1/2, down 19 1/4 cents,
Cash HRW Wheat  is at $7.83 5/8, down 19 cents,
Mar 23 MGEX Wheat  is at $8.68 1/2, down 17 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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