The wheat complex closed with losses across the three markets on Thursday. Chicago saw losses of 9 ¼ to 14 ¼ cents across the board. Kansas City contracts were down 7 to 13 ¼ cents. MPLS spring wheat posted losses of 7 to 14 ½ cents on the day.
Day 5 of the Kansas Wheat Harvest Reports saw producers in eastern KS with 40-70 bpa average yields, improved from a year ago. Central KS yields of 45-60 bpa are in line with average, but were also noted as variable.
USDA’s weekly Export Sales report is pushed back until Friday morning and is expected to show 200,000 to 500,000 MT of 2024/25 wheat sales for the week that ended on June 13.
Japan purchased 84,667 MT of wheat in their weekly tender from Australia, Canada, and the US, with 29,617 MT US origin. IKAR went back on recent reduction of the Russian wheat crop, with a 0.5 MMT increase to 82 MMT. USDA is at 83 MMT.
Jul 24 CBOT Wheat closed at $5.72 3/4, down 9 1/4 cents,
Sep 24 CBOT Wheat closed at $5.86, down 13 cents,
Jul 24 KCBT Wheat closed at $5.92, down 8 3/4 cents,
Sep 24 KCBT Wheat closed at $5.98 1/4, down 11 1/2 cents,
Jul 24 MGEX Wheat closed at $6.18 3/4, down 14 cents,
Sep 24 MGEX Wheat closed at $6.25 3/4, down 14 1/2 cents,
On the date of publication, Alan Brugler 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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
