Wheat Down a Buck

Turn around Tuesday with the expanded $1.30 limits is seeing the board down triple digits. July SRW is down $1.17, May HRW is $1.17 weaker, and July HRW is giving back $1.10. Spring wheat prices are lock limit lower at midday on the turnaround Tuesday. Ukraine announced intentions to issue export certificates, amidst the fighting. 

The USDA flashed a large private export sale this morning, as Philippines booked 193k MT of HRS wheat for new crop delivery. 

USDA reported 343,463 MT of wheat was exported during the week that ended 3/3. That was down from 429,984 MT last week and was under the same week last year by 179k MT. The week’s export was broken down 50% HRW, 25% white, 20% HRS and just 16k MT of SRW. The weekly updated also had 21/22 accumulated wheat exports at 15.852 MMT, compared to 18.67 MMT at the same point last season. 

May 22 CBOT Wheat  is at $11.92 1/4, down 101 3/4 cents,

Cash SRW Wheat  is at $9.87 3/8, down 185 cents,

May 22 KCBT Wheat  is at $11.27 1/4, down 124 1/4 cents,

Cash HRW Wheat  is at $10.50 1/4, down 127 cents,

May 22 MGEX Wheat  is at $11.37 1/2, down 60 cents,