The wheat complex are trading with contracts falling lower across the three markets. Chicago SRW contracts are 4 to 6 cents in the red at midday. KC HRW futures are 6 to 7 ¼ cents lower in the front months. MPLS spring wheat are down 5 to 6 ¼ cents at midday.
Monday morning’s Export Inspections report showed wheat shipments of 393,150 MT (14.45 mbu) in the week of 6/18. That was up 9.79% from the week prior and more than 54.2% above the same week last year. The Philippines was the largest destination of 103,317 MT, with 83,478 MT shipped to Japan and 43,001 MT headed to South Korea. The marketing year total is now 971,031 MT (35.68 mbu) of shipments, which is now 15.92% above the same period last year.
The French soft wheat crop was estimated at 76% gd/ex as of June 15 according to the FranceAgriMer, down 1% from the previous week. The durum crop was estimated at 64% gd/ex. Argus estimates the Ukrainian wheat crop at 24.1 MMT according to Argus, up 0.6 MMT from their previous number.
Jul 26 CBOT Wheat is at $5.99 3/4, down 6 cents,
Sep 26 CBOT Wheat is at $6.09 3/4, down 4 1/4 cents,
Jul 26 KCBT Wheat is at $6.37 1/4, down 6 3/4 cents,
Sep 26 KCBT Wheat is at $6.44, down 7 1/4 cents,
Jul 26 MIAX Wheat is at $6.16 3/4, down 6 1/4 cents,
Sep 26 MIAX Wheat is at $6.42 1/2, down 5 1/4 cents,
On the date of publication, Austin Schroeder 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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