The Chicago futures market ended the midweek session up by 3/4 to 5 1/2 cents, led by nearby May. KC HRW prices closed with 2 3/4 to 4 3/4 cent losses. Spring wheat was 2 1/4 to 4 3/4 cents lower at the bell.Â
Ahead of the weekly Export Sales report, analysts are looking for between 75k MT and 350k MT of old crop wheat sales. New crop bookings are expected to be below 150k MT.Â
Export inspections of Ukrainian grain vessels in Istanbul was halted on Tuesday as the parties involved disagreed over vessel priority. Inspections and shipments are expected to resume tomorrow. Ukraine shipped 3.3 MMT of grain through the Port of Constanta Romania during the 1st quarter of 2023.Â
USDA’s April WASDE report increased the wheat carryout by 30 mbu to 598 given reduced feed and residual and a 5 mbu import increase. Global S&D shifts included 1.2 MMT lighter trade from March, with ending stocks 2.15 MMT tighter to 265.Â
Â
May 23 CBOT Wheat  closed at $6.79 1/2, up 5 1/2 cents,
Jul 23 CBOT Wheat  closed at $6.87, up 3 cents,
Cash SRW Wheat  was $6.22 3/4, up 4 7/8 cents,
May 23 KCBT Wheat  closed at $8.63 1/2, down 4 3/4 cents,
Cash HRW Wheat  was $8.18 3/4, down 4 1/8 cents,
May 23 MGEX Wheat  closed at $8.60, down 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.
/A%20Palantir%20sign%20displayed%20on%20an%20office%20building%20by%20Poetra_RH%20via%20Shutterstock.jpg)
