Friday’s wheat futures continue to work lower. The midday quotes board is 1 ½ to 4 cents lower in Chicago, 7 to 8 cents weaker in KC, and 4 to 5 ¼ cents in the red in Minneapolis.
The weekly wheat export sales were shown at 176,296 MT for the week that ended 11/9. The season’s wheat commitments were 11.89 MMT (437 mbu).
The International Grains Council (IGC) raised estimated world production 2 MMT, with bigger Russian and Turkish crops. Carryout was 1 MMT looser at 264 MMT – compared to 281 last season.
StoneX estimated the Brazilian wheat crop at 9.28 MMT, down from 10.53 MMT in the prior outlook – citing the hot and dry conditions in the C-S regions.
Dec 23 CBOT Wheat is at $5.52 1/4, down 1 1/4 cents,
Mar 24 CBOT Wheat is at $5.78 1/4, down 2 3/4 cents,
Cash SRW Wheat is at $4.72 3/4, down 1 1/4 cents,
Dec 23 KCBT Wheat is at $6.19 1/4, down 8 cents,
Cash HRW Wheat is at $5.51 1/1, down 8 cents,
Dec 23 MGEX Wheat is at $7.18, down 8 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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