Wheat Futures Mixed through Thursday

Midday wheat quotes are working both directions. Chicago prices are up by 1 3/4 to 2 1/2 cents so far. Spring wheat futures are trading 8 1/2 to 9 1/2 cents higher through midday. The HRW market is fractionally to 3 cents red so far. 

The weekly Export Sales report showed 155,167 MT of wheat was sold during the week that ended 6/22. Estimates were to see between 50k and 400k MT. By class, HRS makes up 30.3% of the committed 23/24 business. HRW sits at 22% with 30% for SRW. 

Russia’s 23/24 wheat harvest has begun, according to the Ministry of Agriculture Russia has harvested 2 MMT of grains through 6/28 - ahead of last year’s pace. The Russian Federation has planted 55.6m HA through 6/28, which is more area than last year but the planting pace as a percentage of expected area is inline with average. 

Jul 23 CBOT Wheat  is at $6.58 1/2, up 2 3/4 cents,

Sep 23 CBOT Wheat  is at $6.73 1/4, up 3 1/2 cents,

Cash SRW Wheat  is at $6.12 1/4, up 2 1/8 cents,

Jul 23 KCBT Wheat  is at $7.98 1/4, down 2 1/2 cents,

Cash HRW Wheat  is at $7.55, down 4 3/8 cents,

Jul 23 MGEX Wheat  is at $8.14 1/2, up 10 3/4 cents,