The wheat market extended this week’s slide, with losses across the three exchanges. Chicago contracts were down 13 to 15 cents. Kansas City futures fell 9 to 12 ¾ cents across the board. MPLS spring wheat was 9 to 12 ¼ cents in the red.
Weekly Crop Progress data showed condition ratings sorted out by crop with HRW regions up 1 point to 329 on average, with SRW states up 2 points to 377, and white wheat down 1 to 349.
Egypt’s GASC purchased 470,000 MT of wheat in their tender on Tuesday, with 180,000 MT Romanian, 120,000 MT French, 120,000 MT Ukrainian, and 50,000 MT from Bulgaria. Separately, Algeria purchased 800,000 MT of wheat in a tender on Tuesday. Japan’s Ministry of Ag is tendering for 103,767 MT of wheat from the US, Australia, and Canada, with 31,600 MT US specific.
Jul 24 CBOT Wheat closed at $6.58 1/4, down 14 1/2 cents,
Sep 24 CBOT Wheat closed at $6.80, down 14 cents,
Jul 24 KCBT Wheat closed at $6.87 1/4, down 12 3/4 cents,
Sep 24 KCBT Wheat closed at $7.01 1/4, down 12 1/2 cents,
Jul 24 MGEX Wheat closed at $7.23 1/2, down 10 1/4 cents,
Sep 24 MGEX Wheat closed at $7.33 1/4, down 10 3/4 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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