The Tuesday night session saw slightly higher activity in the wheat market. Wheat futures continue to feel heavy, with contracts weaker across all three exchanges. Chicago SRW contracts were down 4 to 7 ¾ cents on the day. Kansas City HRW futures were 4 ½ to 7 ½ cents lower. MPLS spring wheat contracts posted 4 ¼ to 8 ¼ cent losses.
The weekly NASS Crop Progress report indicated that the pace of U.S. winter wheat planting was 95% complete on Sunday, lagging the 5-year average by 1%. Appearance of the harvest was 87% against the 85% average. Conditional ratings were noted at 48% gd/ex, up 1% from last week. The Brugler500 index was up 2 points at 333.
Weekly wheat shipments totaled 358,254 MT last Thursday according to data from Export Inspections of the FGIS. That was a jump of 60.9% from last week (the largest weekly total since September 28) and 22.9% greater than the same week last year. Most of it was HRS (51.47%) and Soft White (37.44%), as HRW and SRW shipments totaled only 39,708 MT.
Dec 23 CBOT Wheat closed at $5.43 1/2, down 7 1/4 cents, currently up 3 3/4 cents
Mar 24 CBOT Wheat closed at $5.70 1/2, down 5 1/4 cents, currently up 3 1/2 cents
Cash SRW Wheat was $4.63, down 7 1/4 cents,
Dec 23 KCBT Wheat closed at $6.10 1/2, down 7 1/2 cents, currently up 2 1/4 cents
Cash HRW Wheat was $5.42 1/8, down 7 1/2 cents,
Dec 23 MGEX Wheat closed at $7.07 1/4, down 8 1/4 cents, currently up 3 cents
As of 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 for informational purposes only. For more information, please see Barchart’s Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.