The wheat market is currently back in the red after a bounce on Tuesday. CBT SRW futures are 5 to 6 ¼ cents in the red. KC HRW is trading down by as much as 1.6% through midday. MGE HRS futures are down 7 to 10 ½ cents at midday.
Ukraine’s Ag Ministry reported 2.99m HA for winter grains. That included 1.7m HA of winter wheat - +58% from last year.
Interfax reported Russian grain exports at 17.7 MMT for the MY through 9/21, which includes 13.5 MMT of wheat. Ukraine’s current wheat production estimate is 21.7 MMT, a bit below the 22.5 MMT USDA is using.
Dec 23 CBOT Wheat is at $5.62, down 6 1/2 cents,
Mar 24 CBOT Wheat is at $5.90 1/2, down 7 1/4 cents,
Cash SRW Wheat is at $4.78, down 6 1/2 cents,
Dec 23 KCBT Wheat is at $6.70 3/4, down 12 1/2 cents,
Cash HRW Wheat is at $6.09 7/8, down 11 1/2 cents,
Dec 23 MGEX Wheat is at $7.13 3/4, down 11 3/4 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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