The wheat market is higher so far at midday, but pulling off the highs. Chicago contracts are up 4 to 6 cents at on the day. Kansas City futures are up 2 to 3 ½ cents at midday. MPLS spring wheat is 2 to 5 cents higher.
In response to as similar Russian statement, Ukraine announced earlier this morning they would consider all Russian ships traveling in the Black Sea to be carrying military cargo.
Weekly Export Sales data indicated just 170,658 MT of all wheat sales in the week that ended on July 13. That was a 3-week low and below the trade expectations. Sales were mainly spread out between Chile (78,200 MT), Japan (49,300 MT), and Mexico (35,200 MT). Total sales commitments for this year lag 2022/23 by 31.6% at just 5.19 MMT.
Sep 23 CBOT Wheat is at $7.32 1/2, up 4 3/4 cents,
Dec 23 CBOT Wheat is at $7.51 1/4, up 5 3/4 cents,
Cash SRW Wheat is at $6.71 1/1, up 3 3/4 cents,
Sep 23 KCBT Wheat is at $8.70, up 3 1/4 cents,
Cash HRW Wheat is at $8.23 3/8, up 3 1/8 cents,
Sep 23 MGEX Wheat is at $9.00 1/2, up 3 1/4 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.
