Early Friday wheat action has the board trading red so far. On Thursday the wheat market was double digits in the red. Chicago prices were 11 to 12 1/2 cents lower at the closing bell. KC wheat settled with 15 to 18 1/4 cent losses. The May contract was down by 24 cents at the low for the day. Spring wheat futures were 7 1/2 to 11 1/2 cents weaker on Thursday.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
May 23 CBOT Wheat  closed at $6.67, down 12 1/2 cents, currently down 2 1/2 cents
Jul 23 CBOT Wheat  closed at $6.76, down 11 cents, currently down 2 1/4 cents
Cash SRW Wheat  was $6.10 3/4, down 12 cents,
May 23 KCBT Wheat  closed at $8.45 1/4, down 18 1/4 cents, currently up 1/4 cent
Cash HRW Wheat  was $8.02 5/8, down 16 1/8 cents,
May 23 MGEX Wheat  closed at $8.49 1/2, down 10 1/2 cents, currently 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.
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