
The wheat complex is trading with slight gains after a week of losses to start your Friday morning. They closed with losses across the three markets on Thursday. Chicago saw losses of 9 ¼ to 14 ¼ cents across the board. Kansas City contracts were down 7 to 13 ¼ cents. MPLS spring wheat posted losses of 7 to 14 ½ cents on the day.
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.
USDA’s weekly Export Sales report was pushed back until later this morning by the Wednesday holiday, and is expected to show 200,000 to 500,000 MT of 2024/25 wheat sales for the week that ended on June 13.
Japan purchased 84,667 MT of wheat in their weekly tender from Australia, Canada, and the US, with 29,617 MT US origin. IKAR partly reversed a recent reduction of the Russian wheat crop, with a 0.5 MMT increase to 82 MMT. USDA is at 83 MMT.
Jul 24 CBOT Wheat closed at $5.72 3/4, down 9 1/4 cents, currently up 4 1/2 cents
Sep 24 CBOT Wheat closed at $5.86, down 13 cents, currently up 6 cents
Jul 24 KCBT Wheat closed at $5.92, down 8 3/4 cents, currently up 3 1/4 cents
Sep 24 KCBT Wheat closed at $5.98 1/4, down 11 1/2 cents, currently up 2 3/4 cents
Jul 24 MGEX Wheat closed at $6.18 3/4, down 14 cents, currently up 3 3/4 cents
Sep 24 MGEX Wheat closed at $6.25 3/4, down 14 1/2 cents, currently up 3 1/4 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.