The wheat market is starting off Friday with gains of 2 to 7 cents across the domestic classes. Chicago wheat futures were 6 to 8 ½ cents lower on the day. The Dec contract traded in a 16 cent range in the session. KC wheat futures were fractionally to 2 cents lower at the close. The Dec contract stayed in a 10 ¾ cent range on the day. Thursday’s spring wheat futures were 1 ½ to 9 ¾ cents weaker. Dec HRS prices saw a 13 ½ cent range.
USDA’s weekly Export Sales report showed 406k MT of wheat was booked during the week that ended 8/17. That was up 13% for the week, but was below the 500k MT sold during the same week last year. Wheat commitments still trail last year’s pace by 23% at 7.175 MMT (263.7 mbu).
The France Agritel expects wheat shipments will be 17 MMT for 23/24, compared to 16.4 MMT last year, however they had shipments to non-EU members down yr/yr to 9.5 MMT. Agritel maintained their production outlook at 34.8 MMT.
Sep 23 CBOT Wheat closed at $6.04, down 8 1/2 cents, currently up 2 cents
Dec 23 CBOT Wheat closed at $6.31 3/4, down 8 cents, currently up 2 cents
Cash SRW Wheat was $5.35, down 8 7/8 cents,
Sep 23 KCBT Wheat closed at $7.53, down 2 cents, currently up 5 3/4 cents
Cash HRW Wheat was $6.91 5/8, down 2 cents,
Sep 23 MGEX Wheat closed at $7.74 3/4, down 9 3/4 cents, currently up 4 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.
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