Wheat futures are mixed so far through Tuesday’s midday. Chicago futures are fractional to 2 cents in the green. Kansas City contracts are slipping back fractionally to 2 cents. MPLS spring wheat futures are up 1 to 3 cents.
Weekly Crop Progress data suggested that 71% of the US winter wheat crop was harvested as of July 14, now 9% ahead of normal. Spring wheat was 76% headed, vs. the 78% average. Spring wheat condition ratings were up 2% to 77% good/excellent, with none of the crop rated very poor. The Brugler500 index was up 4 points to 384. Most of the improvement was in ID, up 12, with MT 6 points higher, and ND up 1. Ratings in MN were down 2, as SD lost 12 and WA dropping 15 points.
Egypt’s GASC issued a tender for wheat, as the deadline was this morning, with a Russian offering the cheapest. Results should be announced later today. Japan is also tendering for 115,208 MT of US, Canadian, and Australian wheat, with 55,318 MT US specific.
Sep 24 CBOT Wheat is at $5.34, up 1 1/2 cents,
Dec 24 CBOT Wheat is at $5.58 1/4, up 1 3/4 cents,
Sep 24 KCBT Wheat is at $5.55, down 1/2 cent,
Dec 24 KCBT Wheat is at $5.72, down 1/4 cent,
Sep 24 MGEX Wheat is at $5.83, up 2 1/4 cents,
Dec 24 MGEX Wheat is at $6.04 1/2, 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.
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