Wednesday Wheat Traded Lower

The midweek wheat trade ended nearer to the lows for the day with losses across all three domestic classes. CBT SRW went home with 6 to 7 1/4 cent losses. July SRW printed a 14 range on the midweek session from -11 1/4 to + 2 3/4. The HRW futures market settled with 6 to 11 1/2 cent losses on the day. Spring wheat faded the midday gains and closed fractionally to 3 3/4 cents in the red. 

Oats Futures Prices  were 12 1/4 to 13 3/4 cents higher for the day, with July printing new highs for the year.

US Export Sales report estimates for wheat range 200k MT to 450k MT for the week that ended 6/8.  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  closed at $6.30 1/4, down 6 cents,

Sep 23 CBOT Wheat  closed at $6.41 1/4, down 6 3/4 cents,

Cash SRW Wheat  was $5.84 1/2, down 5 3/8 cents,

Jul 23 KCBT Wheat  closed at $7.85 3/4, down 6 cents,

Cash HRW Wheat  was $7.44 5/8, down 6 7/8 cents,

Jul 23 MGEX Wheat  closed at $8.09 1/4, down 1/2 cent,