Wheat prices are extending the Monday pullback with 2 to 6 cent losses across the complex in early Tuesday futures trading. MGE wheat futures closed higher by 3 to 6 ¾ cents on Monday, while the winter wheats ended weaker. Chicago was 1 ¾ to 2 ½ cents in the red at the close, although December did post a new high for the month before retreating. KC HRW futures were fractionally weaker on the day.
USDA’s Export Inspections report showed 354,771 MT of wheat was shipped during the week that ended 10/12. That was up from 306k LW and from 244k LY. The report had 104k MT of the total listed as HRS, with 95k for HRW and 75k for white. The season’s total wheat export reached 6.75 MMT, compared to the 9.4 MMT shipped out by the same time last year.
Wire sources indicate Tunisia booked 100k MT of optional origin durum wheat via tender.
Dec 23 CBOT Wheat closed at $5.77 1/4, down 2 1/2 cents, currently down 6 1/2 cents
Mar 24 CBOT Wheat closed at $6.04 1/2, down 1 3/4 cents, currently down 6 cents
Cash SRW Wheat was $4.95 3/8, down 2 3/8 cents,
Dec 23 KCBT Wheat closed at $6.68 3/4, down 1/4 cent, currently down 2 3/4 cents
Cash HRW Wheat was $6.06 3/8, down 1/8 cent,
Dec 23 MGEX Wheat closed at $7.28 3/4, up 6 3/4 cents, currently down 3 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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