Wheat prices are another 5 cents lower in the winter wheats and 1-2c lower in spring wheat as we head deeper into Thursday morning. Wheat futures fell by as much as 1% on Wednesday, hurt by a sharp rise in the US dollar index. The Chicago futures were 0.6% to 1.1% weaker across the front months. KC HRW futures were down by 5 ¾ to 7 ½ cents. Spring wheats were down by 6 ¼ to 6 ½ cents for the front months on Wednesday. The Oats Futures were also 5 ¼ to 8 cents weaker across the front months on Wednesday.
Several states issued updated wheat crop condition ratings at the end of December. They were mixed, with improved conditions seen in KS, OK, TX and SD, while lower ratings were indicated for CO, MT and NE.
USDA’s weekly Inspections data on Tuesday had shown 273,671 MT of wheat was shipped during the week ending 12/28. That was a 188k MT drop for the week, but compared well to just 86k MT during the same week last year. The YTD shipments total 9.64 MMT, compared to 11.9 MMT during last season.
Mar 24 CBOT Wheat closed at $6.00 1/4, down 6 1/2 cents, currently down 5 3/4 cents
May 24 CBOT Wheat closed at $6.13, down 6 1/4 cents, currently down 5 1/2 cents
Mar 24 KCBT Wheat closed at $6.21 1/2, down 7 1/2 cents, currently down 5 3/4 cents
Mar 24 MGEX Wheat closed at $7.08 1/2, down 6 1/2 cents, currently down 1 3/4 cents
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