Winter wheat futures are red through midday. Chicago is trading 5 to 6 cents weaker but is off the lows at midday. KC HRW futures are down 5 to 76 cents at midday. The MGE spring wheat market is trading near the highs for the day with 1 1/4to 4 cent gains. Spring wheat is now a 28 cent premium to the HRW.
Taiwan booked 56k MT of U.S. wheat via tender. Japan is in the market for 60k MT of feed wheat.
FranceAgriMer estimated their 22/23 wheat carryover at 2.89 MMT, slightly looser than the prior 2.72 MMT estimate.
The Indian government instituted a limit on wheat inventory per entity to 10 MT for retailers, 3k MT for traders and wholesalers, and 75% of annual production for producers and processors. In addition, the government is set to sell 1.5 MMT of government stocks to the open market.
Jul 23 CBOT Wheat is at $6.30 3/4, down 5 1/2 cents,
Sep 23 CBOT Wheat is at $6.41 1/2, down 6 1/2 cents,
Cash SRW Wheat is at $5.84 3/8, down 5 1/2 cents,
Jul 23 KCBT Wheat is at $7.85, down 6 3/4 cents,
Cash HRW Wheat is at $7.44 5/8, down 7 cents,
Jul 23 MGEX Wheat is at $8.11 3/4, up 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.
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