The midday quotes have wheat futures in the black. Chicago wheat is trading up by 4 to 5 3/4 cents after initially fading by ~8. KC wheat prices are trading 5 1/2 to 7 cents higher so far. MGE spring wheat is up by as much as 2% leading the complex.
The weekly wheat export sales report had old crop cancelations of 210k MT. That was a MY low led by 8.2k MT sold to Thailand and 41k MT cancelations to each Mexico and Ecuador. Total wheat commitments were at 684.6 mbu as of 5/25, which is 88.3% of the forecast with 1 week left in the season. Of that, 649.3 mbu have been exported according to the weekly update. New crop sales were shown at 466k MT, bringing the forward book to 2.674 MMT. The May WASDE had 23/24 exports reaching 19.7 MMT.Â
The European Commission marked the season’s wheat export at 28.4 MMT through 5/28, up 11% from last year’s pace.Â
Jul 23 CBOT Wheat  is at $6.13 3/4, up 3 cents,
Sep 23 CBOT Wheat  is at $6.27 1/4, up 3 cents,
Cash SRW Wheat  is at $5.62 3/8, up 3 cents,
Jul 23 KCBT Wheat  is at $8.06 3/4, up 4 1/4 cents,
Cash HRW Wheat  is at $7.69 5/8, up 3 1/2 cents,
Jul 23 MGEX Wheat  is at $8.05 1/2, up 16 1/2 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.
/Computer%20board%20micro%20chip%20green%20by%20blickpixel%20via%20Pixabay.jpg){kind=tracking}
