Wheat futures are posting mixed action so far on Monday, as the spring wheat is leading the way to the downside. 5 to 6 cents lower. Chicago SRW futures are down 1 to 2 cents across front months. KC HRW is leading the way higher, up 1 to 2 cents.
This morning’s Export Inspections report from USDA’s FGIS indicated 347,519 MT (12.769 mbu) of wheat shipped in the week that concluded on August 15. That was a sharp 47.88% decline from last week but 11.63% above the same week in 2023. Indonesia was the top destination for shipments at 133,328 MT, with Japan buying 85,985 MT. Accumulated exports for the marketing year have total 4.584 MMT (168.4 mbu), which is 25.93% larger than the same 2 ½ month period last year.
Crop Progress data released this afternoon is expected to show the winter wheat crop at 96% harvested. Spring wheat is expected to be 31% harvested by Sunday, with conditions seen down 1% to 71% gd/ex.
Sep 24 CBOT Wheat is at $5.28, down 2 cents,
Dec 24 CBOT Wheat is at $5.52, down 1/2 cent,
Sep 24 KCBT Wheat is at $5.41, up 1 1/4 cents,
Dec 24 KCBT Wheat is at $5.56 1/2, up 1 1/2 cents,
Sep 24 MGEX Wheat is at $5.87 1/2, down 5 3/4 cents,
Dec 24 MGEX Wheat is at $6.04, down 5 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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