Wheat futures closed out Monday with the exchanges mixed. MPLS spring wheat was the leader to the downside, with 5 to 6 cents losses. Chicago SRW futures were down 1 to 2 cents across front months. KC HRW lead the way higher, up 1 to 2 cents.
Crop Progress data indicated 96% of the US winter wheat harvest was completed by August 18. The spring wheat harvest was tallied at 31% complete, behind the 36% average pace. Conditions of the crop remaining were up 1% to 73% gd/ex, as the Brugler500 index was unchanged at 379.
This morning’s Export Inspections report from USDA’s FGIS indicated 347,519 MT (12.769 mbu) of wheat shipped in the week that concluded on August 15. That was a sharp 47.88% decline from last week but 11.63% above the same week in 2023. Indonesia was the top destination for shipments at 133,328 MT, with Japan buying 85,985 MT. Accumulated exports for the marketing year have total 4.584 MMT (168.4 mbu), which is 25.93% larger than the same 2 ½ month period last year.
Sep 24 CBOT Wheat closed at $5.28 1/4, down 1 3/4 cents,
Dec 24 CBOT Wheat closed at $5.52 1/4, down 1/4 cent,
Sep 24 KCBT Wheat closed at $5.40 3/4, up 1 cent,
Dec 24 KCBT Wheat closed at $5.56 1/2, up 1 1/2 cents,
Sep 24 MGEX Wheat closed at $5.87 1/4, down 6 cents,
Dec 24 MGEX Wheat closed at $6.03 1/2, down 5 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.
