The wheat market is trading with double digit losses across the three exchanges on Monday, giving back the gains from the Friday session. Chicago futures are down 19 to 24 cents so far on the day. Kansas City contracts are losing 15 to 25 cents across the board. MPLS spring wheat is 15 to 20 cents lower in most front months with exception to in delivery July. Delivery notices against July CBT wheat slowed to 31 contracts overnight, while KC July has still seen zero since FND.Â
Wheat shipments were pegged at 341,005 MT (12.5 mbu) during the week that ended on July 4th. That was up 1.7% from the week prior but down 18.7% vs. the same week last year. Of that total, 92,188 MT was split out as headed to Japan, with 67,761 MT headed to South Korea an 55,200 MT to Peru. In the first month+ of the marketing year, exporters have shipped 1.73 MMT (63.6 mbu) so far, which is a 13.7% increase over the previous marketing year.Â
Jul 24 CBOT Wheat  is at $5.53, down 19 1/4 cents,
Sep 24 CBOT Wheat  is at $5.67 1/4, down 23 1/4 cents,
Jul 24 KCBT Wheat  is at $5.80 1/4, down 15 cents,
Sep 24 KCBT Wheat  is at $5.74 1/2, down 24 1/2 cents,
Jul 24 MGEX Wheat  is at $6.21, unch,
Sep 24 MGEX Wheat  is at $6.13 1/2, down 19 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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