Wheat futures are trading with weaker action on Thursday across the three exchanges. Chicago SRW futures are down 6 to 8 cents at midday. Kansas City HRW contracts are down 4 to 6 cents. MPLS spring wheat is down another 3 to 6 cents.
Updated Export Sales data released this morning showed just 309,319 MT of wheat sold in the week that ended on July 18, down vs. last week. The trade was expecting to see between 300,000 and 625,000 MT of wheat sold for 2024/25 marketing year. South Korea was the buyer of 105,000 MT, with Nigeria purchasing 58,800 MT.
The Wheat Quality Council Spring wheat and durum crop tour is underway in North Dakota and a tier of counties in South Dakota. The Day 1 tour average yield was 52.3 bpa, compared to 48.3 bpa a year ago. Tour participants indicated that the Day 2 average was 52.5 bpa for combined HRS and durum samples, with the HRS averaging 53.7 bpa. The tour wraps up later today in Fargo.
Sep 24 CBOT Wheat is at $5.39 1/4, down 7 3/4 cents,
Dec 24 CBOT Wheat is at $5.63 3/4, down 7 1/4 cents,
Sep 24 KCBT Wheat is at $5.62 1/4, down 5 1/4 cents,
Dec 24 KCBT Wheat is at $5.78 3/4, down 5 cents,
Sep 24 MGEX Wheat is at $6.05, down 5 3/4 cents,
Dec 24 MGEX Wheat is at $6.23 1/2, down 4 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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