Wheat Pushing Higher to Start Tuesday
Wheat futures are showing positive Tuesday AM trade following Monday’s collapse. The wheat complex faced pressure on Monday across all three exchanges. Chicago SRW futures were down 14 to 17 cents on the day. KC HRW was 19 to 20 cents lower. MPLS spring wheat showed 14 to 16 cent losses across the front months.
Monday afternoon’s Crop Progress report showed 14% of the US winter wheat crop planted as of Sunday, 1% faster than normal. The spring wheat crop was 92% harvested, above the 90% average pace.
Weekly Export Inspections data from FGIS showed 556,901 MT of wheat shipped in the week that ended on September 12. That was a drop of 10.3% from last week but an improvement of 31.77% from the same week last year. Of that total, 113,861 MT was headed to Thailand, with 96,393 MT shipped to the Philippines, and 93,397 MT to Mexico.
Dec 24 CBOT Wheat closed at $5.78 1/2, down 16 1/4 cents, currently up 4 3/4 cents
Mar 25 CBOT Wheat closed at $5.97 1/2, down 14 3/4 cents, currently up 4 1/2 cents
Dec 24 KCBT Wheat closed at $5.80 1/2, down 19 1/2 cents, currently up 5 cents
Mar 25 KCBT Wheat closed at $5.93 1/2, down 19 1/4 cents, currently up 5 1/4 cents
Dec 24 MGEX Wheat closed at $6.19 3/4, down 15 3/4 cents, currently up 5 cents
Mar 25 MGEX Wheat closed at $6.40 3/4, down 14 3/4 cents, currently up 5 cents
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.