Wheat is trading with morning losses of 2 to 10 cents across the domestic classes. The SRW market is near the lows for the session after a mostly downward overnight trade. CBT SRW futures ended the Monday session with 4 to 5 ¼ cent losses. KC wheat futures were 6 ¼ to 16 ½ cents lower at the close. Front month spring wheat futures were a dime lower.
The USDA Crop Progress report had spring wheat harvest advancing 15% points to 54% finished. That remains 9% points behind the average pace. The spring wheat ratings were 2 points lower on the Brugler500 Index to 312. MT increased by 8 points for the week on the index, while ND was down by 10 points.
USDA reported 390,364 MT of wheat export shipments for the week that ended 8/24. That was up from 311k MT last week but 241k MT below the same week last year. Accumulated shipments reached 4.03 MMT, but still trail last year’s pace by 21%.
Sep 23 CBOT Wheat closed at $5.88, down 5 1/4 cents, currently down 6 1/4 cents
Dec 23 CBOT Wheat closed at $6.17, down 4 3/4 cents, currently down 6 1/4 cents
Cash SRW Wheat was $5.19 1/1, down 5 1/2 cents,
Sep 23 KCBT Wheat closed at $7.37 1/2, down 16 1/2 cents, currently down 12 1/4 cents
Cash HRW Wheat was $6.75 1/8, down 16 1/2 cents,
Sep 23 MGEX Wheat closed at $7.65 1/4, down 10 1/2 cents, currently down 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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