The wheat complex is trading with losses across the three markets at midday. Chicago saw losses of 8 to 12 cents across most front months. Kansas City contracts are down 9 to 12 cents. MPLS spring wheat is down 10 to 11 cents so far. French Milling Wheat Futures were down 1.75% on Wednesday while the US market was closed for the Juneteeth holiday.
Japan purchased 84,667 MT of wheat in their weekly tender from Australia, Canada, and the US, with 29,617 MT US origin. IKAR went back on recent reduction of the Russian wheat crop, with a 0.5 MMT increase to 82 MMT. USDA is at 83 MMT.
Day 5 of the Kansas Wheat Harvest Reports saw producers in eastern KS with 40-70 bpa average yields, improved from a year ago. Central KS yields of 45-60 bpa are in line with average, but were also noted as variable.
Jul 24 CBOT Wheat is at $5.73 1/4, down 8 3/4 cents,
Sep 24 CBOT Wheat is at $5.87 3/4, down 11 1/4 cents,
Jul 24 KCBT Wheat is at $5.91 1/2, down 9 1/4 cents,
Sep 24 KCBT Wheat is at $5.98 1/4, down 11 1/2 cents,
Jul 24 MGEX Wheat is at $6.22, down 10 3/4 cents,
Sep 24 MGEX Wheat is at $6.29 1/4, down 11 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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