The Tuesday overnight session saw slightly higher action in the wheat market. Wheat futures continue to feel heavy, with contracts weaker across all three exchanges. Chicago SRW contracts were down 4 to 7 ¾ cents on the day. Kansas City HRW futures were 4 ½ to 7 ½ cents lower. MPLS spring wheat contracts posted 4 ¼ to 8 ¼ cent losses.
The weekly NASS Crop Progress report indicated the US winter wheat planting pace was 95% complete by Sunday, lagging the 5-year average by 1%. Emergence of the crop was 87% vs. the 85% average. Condition ratings were scored at 48% gd/ex, up 1% from last week. The Brugler500 index was up 2 points at 333.
Weekly wheat shipments totaled 358,254 MT as of last Thursday according to Export Inspections data from the FGIS. That was a jump of 60.9% from last week (the largest weekly total since September 28) and 22.9% larger than the same week last year. Most of it was HRS (51.47%) and Soft White (37.44%), as HRW and SRW shipments totaled just 39,708 MT.
Dec 23 CBOT Wheat closed at $5.43 1/2, down 7 1/4 cents, currently up 3 3/4 cents
Mar 24 CBOT Wheat closed at $5.70 1/2, down 5 1/4 cents, currently up 3 1/2 cents
Cash SRW Wheat was $4.63, down 7 1/4 cents,
Dec 23 KCBT Wheat closed at $6.10 1/2, down 7 1/2 cents, currently up 2 1/4 cents
Cash HRW Wheat was $5.42 1/8, down 7 1/2 cents,
Dec 23 MGEX Wheat closed at $7.07 1/4, down 8 1/4 cents, currently up 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.
/Alphabet%20Inc_%20and%20Google%20logos%20by%20IgorGolovinov%20via%20Shutterstock.jpg)
/Stickers%20with%20AMD%20Radeon%20and%20Nvidia%20GeForce%20RTX%20graphics%20on%20new%20laptop%20computer%20by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/Robinhood%20app%20on%20phone%20by%20Andrew%20Neel%20via%20Unsplash.jpg)