Wheat Currently Red on Wednesday

Front month wheat futures are trading weaker through the midweek session. CBT SRW futures are down 1.14% to 1.5% so far, as the September contract has printed a near 50c range. KC wheats are down by as much as 2.3% at midday. The front month HRS futures are down by 0.4% to 1.3% at midday with losses of as much as 11 cents. 

Egypt’s GASC purchased 360k MT of wheat. 

Export Sales estimates range from 200k MT to 500k MT for wheat during the week that ended 7/27. 

Kazakhstan’s grain union estimates wheat production at 14.5 MMT for 2023. That would leave exports near 9 MMT. 

Slovakia had funding approved for expanding Ukrainian grain exports. Currently ~50k MT of Ukrainian sourced grain is exported through Slovakia monthly. Ukraine and Croatia are in talks to permit using Croatian ports to ship Ukrainian grain. 

Sep 23 CBOT Wheat  is at $6.42 1/2, down 9 3/4 cents,

Dec 23 CBOT Wheat  is at $6.69 1/4, down 9 cents,

Cash SRW Wheat  is at $5.75 1/2, down 10 1/4 cents,

Sep 23 KCBT Wheat  is at $7.87, down 17 1/2 cents,

Cash HRW Wheat  is at $7.28, down 17 5/8 cents,

Sep 23 MGEX Wheat  is at $8.49 1/4, down 5 1/2 cents,