Spring wheat futures are currently trading fractionally to 7 cents in the red. The winter wheat market is currently double digits higher. HRW is trading 8 to 11 cents higher, while SRW is up by 1.5% to 1.7% higher.
The weekly NASS Crop Progress report showed 56% of the winter wheat crop was harvested as of 7/16. That was a 10ppt increase for the week, but is still 7% points behind the average pace. In KS, USDA showed 71% was harvested compared to 94% on average. The spring wheat crop was 86% headed as of 7/16, compared to 83% on average. Spring wheat crop conditions were scored at 337 on the Brugler500 Index, up by 8 points from last week.
The UkrAgroConsult expects 23/24 wheat exports 2 MMT higher for Russia to 47 MMT. They also reported Russia’s old crop shipments 4.8 MMT higher to 46.8 MMT.
Sep 23 CBOT Wheat is at $6.60 1/2, up 6 3/4 cents,
Dec 23 CBOT Wheat is at $6.80 1/4, up 6 1/2 cents,
Cash SRW Wheat is at $6.01 5/8, up 6 5/8 cents,
Sep 23 KCBT Wheat is at $8.21 3/4, up 6 1/2 cents,
Cash HRW Wheat is at $7.76 1/8, up 6 1/2 cents,
Sep 23 MGEX Wheat is at $8.69 3/4, down 8 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 Barchart 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.
