Front month wheat futures ended the day with gains as corn and soybeans fell for the midweek session. SRW futures ended the day back above the $6 mark with 4 to 7 cent gains. KC HRW futures were fractionally mixed to a penny higher at the end of Wednesday. Spring wheat futures were 1 ¼ to 3 cents higher for the close.Â
Monthly wheat exports were listed at 54.95 mbu for December according to Census data. That was a 12% increase for the month, and was a 17% increase from Dec ’22. The season’s official wheat shipment was up to 370.3 mbu through Dec.Â
The Russian Ag Ministry announced the export tax for the week at 3,804 rubles/tonne – a near 5% increase for the week.Â
Government reporting had Ukrainian sea exports out of Odesa port at over 20 MMT since August, including 14.3 MMT of grain. Jan’s grain shipment out of Odesa reached 6.3 MMT, which was reportedly on par with pre-war levels.Â
Japan issued a regular weekly tender seeking 136k MT of wheat from U.S., Canada, and Australia.Â
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Mar 24 CBOT Wheat  closed at $6.02, up 7 cents,
May 24 CBOT Wheat  closed at $6.08, up 5 1/4 cents,
Mar 24 KCBT Wheat  closed at $6.18 1/4, down 1/4 cent,
Mar 24 MGEX Wheat  closed at $6.96 1/4, 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.
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