Chicago wheat futures are trading 2 to 2 ½ cents in the black, though the hard reds are weaker. KC wheat futures are trading 1 ½ to 4 cents in the red so far. Spring wheat prices are fractionally mixed but mostly in the red so far.
Russia expects total grain exports at 60 MMT from the 130 MMT total harvest. The Ag Ministry reported 123 MMT of grain has been harvested already.
Kazakhstan’s Ag Minister reported the grain harvest at 6.6 MMT as of 9/19. That is down from 14.2 MMT at the same point last year, reflecting both weaker yields and a slower harvest pace.
Algeria is tendering for milling wheat for Nov-Dec shipment and may have purchased 2 or more cargos yesterday. That buying interest encouraged Egypt to get back in the market, with results of a GASC tender expected later today.
Dec 23 CBOT Wheat is at $5.86 1/4, up 2 1/4 cents,
Mar 24 CBOT Wheat is at $6.13, up 2 3/4 cents,
Cash SRW Wheat is at $4.99 5/8, up 2 1/4 cents,
Dec 23 KCBT Wheat is at $7.26 1/2, down 4 1/2 cents,
Cash HRW Wheat is at $6.54 3/4, down 4 1/2 cents,
Dec 23 MGEX Wheat is at $7.79 1/2, down 1/4 cent,
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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