Front month wheat futures fell double digits on Wednesday. For SRW, that left the market 2% to 2.6% lower as July got back near the $6 mark. KC Wheat futures ended the session 18 1/2 to 29 1/4 cents in the red with a 3.5% loss in July. Spring wheat closed with 17 1/4 to 22 3/4 cent losses of as much as 2.8%. Â
Ahead of the weekly FAS data, analysts are looking for USDA to report between 75k MT of old crop wheat cancelations and 100k MT of net new old crop sales. New crop export sales are estimated between 200k MT and 500k MT for the week that ended 5/18.Â
Ukraine’s Ag Ministry reported the season’s grain export was 4.6% behind last year’s pace with 44.6 MMT shipped – including 15.3 MMT of wheat, an 18% decrease yr/yr.Â
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Jul 23 CBOT Wheat  closed at $6.06 1/4, down 16 cents,
Sep 23 CBOT Wheat  closed at $6.19, down 15 1/2 cents,
Cash SRW Wheat  was $5.45 1/4, down 16 cents,
Jul 23 KCBT Wheat  closed at $8.12 1/4, down 29 1/4 cents,
Cash HRW Wheat  was $7.79 1/2, down 32 cents,
Jul 23 MGEX Wheat  closed at $7.99, down 21 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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