Wheat Slipping into Midday
Wheat futures are trading with losses across most contracts on Thursday. Chicago SRW futures are back down 8 to 10 cents in the nearbys. There were another 220 deliveries issued for September CBT wheat overnight. KC HRW is posting 5 to 7 cent losses in the front months. MPLS spring wheat is down fractionally at midday.
The USDA Export Sales report will be delayed until Friday morning due to the Labor Day holiday pushing things back. All wheat export business is expected to total 300,000 MT to 600,000 MT in that week.
Japan purchased 87,660 MT of wheat from the US and Canada, with 63,730 MT sourced from the US. The French wheat crop was estimated at 25.98 MMT according to the producer group AGPB, a 26% drop from last year and below the French ag ministry’s 26.32 MMT.
Sep 24 CBOT Wheat is at $5.57, down 8 1/4 cents,
Dec 24 CBOT Wheat is at $5.70 3/4, down 10 cents,
Sep 24 KCBT Wheat is at $5.80, down 5 1/4 cents,
Dec 24 KCBT Wheat is at $5.86 1/4, down 6 3/4 cents,
Sep 24 MGEX Wheat is at $6.01 1/4, unch,
Dec 24 MGEX Wheat is at $6.22 3/4, down 3/4 cent,
On the date of publication, Austin Schroeder 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 Barchart Disclosure Policy here.