The Thursday wheat trade is down by double digits through midday. CBT SRW futures are 10 1/4 to 12 cents in the red so far. KC HRW futures are trading 16 1/2 to 19 1/2 cents lower so far. MGE spring wheat is the firmest with 6 to 8 1/2 cent front month losses at midday.Â
USDA’s weekly Export Sales report showed 135,680 MT of wheat bookings for the week that ended 4/6. That was down 30% from the week prior, but was 41% above the same week last year and in-line with the pre-report estimate. USDA also had 67.8k MT of new crop sales for the week – with 40k MT of SRW. Old crop commitments were at 671.5 mbu as of 4/6, which is 86% of the USDA forecast.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
May 23 CBOT Wheat  is at $6.68 1/2, down 11 cents,
Jul 23 CBOT Wheat  is at $6.78, down 9 cents,
Cash SRW Wheat  is at $6.12 1/2, down 10 1/4 cents,
May 23 KCBT Wheat  is at $8.45 1/4, down 18 1/4 cents,
Cash HRW Wheat  is at $8.02 1/2, down 16 1/4 cents,
May 23 MGEX Wheat  is at $8.55 1/4, down 4 3/4 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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