The wheat market is trading with mostly lower action to start Monday morning. The three contracts were in rally mode to close out the week, after USDA reported a solid round of export activity. Chicago futures were up 12 to 18 cents on the Friday session. Kansas City contracts were 13 to 15 ½ cents higher at the close. MPLS spring wheat was 9 to 11 cents in the green.
Delivery notices against July CBT wheat slowed to 31 contracts overnight, while KC July has still seen zero since FND.Â
Friday morning’s Export Sales report saw all wheat bookings running 805,318 MT during the week that ended on June 27. That was the largest sale total since China came in last December and bested the 350,000 to 700,000 MT pre-report expectations. Mexico purchased 154,700 MT, with 154,400 MT sold to the Philippines.Â
Japan’s weekly tender showed 129,660 MT of wheat purchased from Australia, Canada, and the US, with 59,670 US specific. With the French soft wheat harvest just beginning, the FranceAgriMer saw conditions deteriorating to 58% gd/ex, a 2% decline on the week.
Jul 24 CBOT Wheat  closed at $5.72 1/4, up 17 3/4 cents, currently unch
Sep 24 CBOT Wheat  closed at $5.90 1/2, up 16 1/2 cents, currently down 10 1/4 cents
Jul 24 KCBT Wheat  closed at $5.95 1/4, up 13 3/4 cents, currently down 4 1/4 cents
Sep 24 KCBT Wheat  closed at $5.99, up 15 1/2 cents, currently down 15 1/4 cents
Jul 24 MGEX Wheat  closed at $6.21, down 7 cents, currently unch
Sep 24 MGEX Wheat  closed at $6.33 1/4, up 10 1/2 cents, currently down 9 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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