Wheat futures fell by double digits ahead of USDA’s report day. SRW futures were 1.8% to 2.2% lower and closed near their lows. HRW futures were 2 to 3 cents off their low at the close, with losses of as much as 1.9%. Spring wheat futures were down by 11 1/4 to 12 3/4 cents weaker.
The weekly Exports Sales report had 26,263 MT of wheat bookings for the week that ended 5/4. That was below the range of estimates as a new MY low. Cancelations were limited, but as were net sales. USDA showed new crop bookings were 333,624 MT. That was above estimates and set the forward book at 1.626 MMT. Forward sales into the 22/23 season were 2.43 MMT at this time last year.
Jul 23 CBOT Wheat closed at $6.27 1/4, down 14 cents,
Sep 23 CBOT Wheat closed at $6.39, down 13 1/2 cents,
Cash SRW Wheat was $5.66, down 14 cents,
Jul 23 KCBT Wheat closed at $8.41 1/2, down 13 3/4 cents,
Cash HRW Wheat was $8.10 1/4, down 13 3/4 cents,
Jul 23 MGEX Wheat closed at $8.36 3/4, down 12 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.
/Facebook-you've%20been%20Zucked%20by%20Annie%20Spratt%20via%20Unsplash.jpg)
/Advanced%20Micro%20Devices%20Inc_%20logo%20and%20chart%20data-by%20Poetra_%20RH%20via%20Shutterstock.jpg)