Wheat futures are trading with losses of as much as 3% led by the SRW market. Chicago prices are 16 /4 to 20 ¼ cents in the red with the front months just 3c off the low for the day. KC wheat futures are down by 11 ½ to 13 cents so far. Spring wheat futures are trading with double digit losses in March and 9 cent losses in the other nearby contracts.
The weekly Export Inspections data had 491,074 MT of wheat shipped during the week that ended 1/4. USDA broke down the export with 156k MT of white, 136k MT for spring wheat and 125k MT for HRW. The season’s total reached 10.13 MMT, compared to 12.1 MMT last season.
BAGE estimates the Argentine wheat crop at 15.1 MMT, a 2.7% increase via realized yields.
Mar 24 CBOT Wheat is at $5.95 1/2, down 20 1/2 cents,
May 24 CBOT Wheat is at $6.08 1/4, down 19 1/4 cents,
Mar 24 KCBT Wheat is at $6.15, down 13 cents,
Mar 24 MGEX Wheat is at $7.02, down 10 cents,
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