The wheat complex trading with lower midday action across all three exchanges. Chicago wheat is trading with 4 to 6 cent losses on Friday so far. KC contracts are posting 5 to 9 cent lower trade as we roll through midday. MPLS spring wheat futures are feeling the pressure as well, with 4 to 10 cent losses.
French wheat ratings are seen at 62% gd/ex, according to the FranceAgriMer firm. That is even with a week ago, but well below the 85% last year. Some rains are making their way back into the forecasts for major Russian wheat regions. Ukraine’s Ag Ministry raised their overall grain production estimate by 3.6 MMT to 56 MMT, with 21 MMT of that including wheat.
Jul 24 CBOT Wheat is at $6.15 3/4, down 4 1/4 cents,
Sep 24 CBOT Wheat is at $6.31 3/4, down 6 cents,
Jul 24 KCBT Wheat is at $6.31 3/4, down 5 cents,
Sep 24 KCBT Wheat is at $6.39 3/4, down 7 3/4 cents,
Jul 24 MGEX Wheat is at $6.57 3/4, down 9 1/4 cents,
Sep 24 MGEX Wheat is at $6.68 1/4, down 8 1/2 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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