Front month wheat futures were mixed at the Tuesday close. Chicago futures ended the within a penny of UNCH after May traded within a 15c range on the day. KC HRW futures were 1 ½ cents weaker in the May contracts but fractionally mixed in the other nearbys. May HRW printed a 15 cent range as well on the day. Minneapolis spring wheat futures were 2c higher, as May printed a 16 ½ cent range.
NASS state data showed Texas winter wheat conditions were 44% good/ex for a Brugler500 score of 313, vs 319 last week. KS winter wheat conditions improved 1 point on the Brugler500 scale to 344. Oklahoma conditions were also 1 point better to 366.
Weekly Inspections data showed 402,874 MT of wheat was exported during the week that ended 3/7. Accumulated shipments on the weekly data reached 13.37 MMT.
Stats Canada’s planting intentions report showed expected wheat acreage for 2024 at 27.05 million acres. That is slightly above a year ago and above the 26.7 million acres estimate. Durum intentions were 5.1% vs. last year, with spring wheat plans down 1.2%.
May 24 CBOT Wheat closed at $5.47 1/2, up 1/4 cent,
Jul 24 CBOT Wheat closed at $5.60 3/4, down 1/4 cent,
May 24 KCBT Wheat closed at $5.97 1/4, down 1 1/2 cents,
Jul 24 KCBT Wheat closed at $5.87 1/2, down 1/4 cent,
May 24 MGEX Wheat closed at $6.72, up 2 cents,
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