Front month wheat futures are trading with 2 cent gains in the CBT market, and 1 to 4 1/2 cent gains in the KC market. Spring wheat futures are lower so far with 1/2 to 3 1/2 cent losses at midday.Â
The MPLS Grain Exchange reported HRS stocks at 15.622 mbu as of 2/26, that was down by 17k bushels the week prior.
There were 580 deliveries against March CBT wheat overnight, with ADMIS customers the main issuers and Dorman Trading clients stopping 420 of them. There were 234 contracts put out against March KC futures, with an SG Americas customer stopping all of them.Â
The export corridor deal is set to expire on March 19th, barring negotiations to extend it. Russia’s Foreign Ministry stated that they do not intend to extend the deal unless their own exports see benefit to do so. Ukraine is seeking a 1 year extension. Delays in inspecting cargos at Istanbul have been a major issue due to demurrage costs. Ukrainian Black Sea grain exports were reported at 525,688 MT for the week ending 2/26. That was down from 760k MT last week and brought the total shipments under the Corridor agreement to 22.5 MMT of all grain.Â
May 23 CBOT Wheat  is at $7.08 1/4, up 2 3/4 cents,
Jul 23 CBOT Wheat  is at $7.16, up 2 1/4 cents,
Cash SRW Wheat  is at $6.47 3/4, up 8 3/4 cents,
May 23 KCBT Wheat  is at $8.14 3/4, up 2 cents,
Cash HRW Wheat  is at $7.82 1/1, up 5 1/2 cents,
May 23 MGEX Wheat  is at $8.63 3/4, down 3 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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