The domestic wheat market is firming back up through Tuesday’s midday. Chicago futures are up by 4 to 6 ¼ cents at midday, though March is still under the $6 mark. KC futures are currently up by 4 to 6 ¾ cents. Midday MGE wheat prices ae 5 cents in the black. U
Winter wheat ratings in TX improved through the week. G/E increased from 42% to 46% and P/VP decreased from 26% to 20% as of 2/1.
Weekly Export Inspections data had 266,269 MT of wheat shipped during the week that ended 2/1. USDA listed the season’s total shipment at 11.27 MMT, which is still behind the 13.8 MMT pace last year.
Government reporting had Ukrainian sea exports out of Odesa port at over 20 MMT since August, including 14.3 MMT of grain. Jan’s grain shipment out of Odesa reached 6.3 MMT, which was reportedly on par with pre-war levels.
Japan issued a regular tender seeking 136k MT of wheat from U.S., Canada, and Australia.
Mar 24 CBOT Wheat is at $5.96 1/4, up 6 cents,
May 24 CBOT Wheat is at $6.04 3/4, up 5 3/4 cents,
Mar 24 KCBT Wheat is at $6.21, up 7 cents,
Mar 24 MGEX Wheat is at $6.96 1/2, up 5 1/2 cents,
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