Wheat futures are heading lower on Friday across the three exchanges. Chicago SRW futures are down 5 to 6 cents. KC HRW is 9 to 10 cents lower in the nearbys. MPLS spring wheat is posting losses of 9 to 15 cents.
Thursday morning’s Export Sales report showed all wheat export commitments at 9.488 MMT of August 15. That was 31% above the year prior and is a 4-year high. It is also 42% of the USDA estimated full year projection, lagging the 44% average pace.
FranceArgiMer estimates the French wheat crop at 100% harvested and ending the season with a 49% good to excellent rating.
Sep 24 CBOT Wheat is at $5.04 3/4, down 6 1/4 cents,
Dec 24 CBOT Wheat is at $5.30 1/2, down 5 cents,
Sep 24 KCBT Wheat is at $5.20, down 9 1/4 cents,
Dec 24 KCBT Wheat is at $5.35 1/2, down 9 1/2 cents,
Sep 24 MGEX Wheat is at $5.54, down 14 1/4 cents,
Dec 24 MGEX Wheat is at $5.74 1/4, down 9 3/4 cents,
On the date of publication, Austin Schroeder 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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