Front month wheat futures are trading higher so far out of the holiday weekend. Chicago futures are up 2 to 7 cents so far. KC HRW is gaining 3 ¼ to 5 ¼ cents. Spring wheat quotes are up as much as 12 cents so far.
Analysts estimate the Canadian wheat stocks were between 3.7 MMT and 4.6 MMT as of July 31. The average trade guess of 4 MMT would be 340k MT looser yr/yr if realized.
USDA’s weekly Export Inspections data had 299,862 MT of wheat shipments for the week that ended 8/31. That was a 90.5k MT decrease for the week and was down from 538k MT during the same week last year.
Sep 23 CBOT Wheat is at $5.75, up 7 1/2 cents,
Dec 23 CBOT Wheat is at $6.01, up 5 1/2 cents,
Cash SRW Wheat is at $5.09 1/2, up 5 1/2 cents,
Sep 23 KCBT Wheat is at $7.23 3/4, up 3 1/4 cents,
Cash HRW Wheat is at $6.54 1/8, up 5 3/4 cents,
Sep 23 MGEX Wheat is at $7.46, up 12 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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