The Wheat complex is fading off the strong overnight session on Monday. Kansas City is leading the way, down 11 to 14 ¼ cents. Chicago SRW contracts are 7 ¼ to 9 cents in the red at midday. MPLS spring wheat futures are 5 ¼ to 7 cents lower so far on the day.
The Black Sea Grain Deal has been halted by Russia, citing the parts regarding Russia were not fulfilled. Sources also indicated “Russia will immediately return to the deal once the conditions affecting Russia are fulfilled.”
The weekly Export Inspections data had 253,409 MT of wheat exports for the week that ended 7/13. That was down from 419k MT last week, but up 60k MT from the same week last year. SRW exports were 57% of the total for the week. USDA had 1.77 MMT for the season’s total, compared to 2.12 MMT during last year.
Sep 23 CBOT Wheat is at $6.52 3/4, down 8 3/4 cents,
Dec 23 CBOT Wheat is at $6.73 1/2, down 7 1/4 cents,
Cash SRW Wheat is at $5.93 3/8, down 8 7/8 cents,
Sep 23 KCBT Wheat is at $8.14 3/4, down 14 1/4 cents,
Cash HRW Wheat is at $7.69 1/8, down 14 1/4 cents,
Sep 23 MGEX Wheat is at $8.76 1/2, down 7 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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