The wheat complex is trading with contracts lower at midday. Chicago SRW contracts are 12 to 14 cents in the red. KC HRW futures are 10 to 12 cents lower in the front months at midday. MPLS spring wheat is down 9 to 10 cents across most contracts.
Weekly NASS Crop Progress data showed 86% of the US winter wheat crop harvested by Sunday, now matching the normal pace. The spring wheat crop was 98% headed, 1% ahead the 5-year average pace, with 5% of the crop harvested. Spring wheat conditions were up 2% at 55% gd/ex, with the Brugler500 index up 6 points higher to 348. Ratings in MT and SD were up 27 points, with ND down 7 and MN slipping 1 point,
Quarterly NASS Flower Milling data showed 222.28 mbu of wheat ground for flour from April to June, down just 0.65 mbu from last year and up 0.58 mbu from the previous quarter.
Export data released by Census this morning showed 1.473 MMT of exports in June, a 3 year low and 8.49% below the May total.
A South Korean mill purchased 50,000 MT of US wheat in a tender overnight.
Sep 26 CBOT Wheat is at $6.37 1/2, down 13 1/2 cents,
Dec 26 CBOT Wheat is at $6.56 1/2, down 12 3/4 cents,
Sep 26 KCBT Wheat is at $7.06, down 11 1/4 cents,
Dec 26 KCBT Wheat is at $7.23 1/4, down 10 3/4 cents,
Sep 26 MIAX Wheat is at $6.85 1/2, down 9 1/2 cents,
Dec 26 MIAX Wheat is at $7.10 1/2, down 9 1/2 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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