Wheat futures are mostly in the red through midday, though spring wheat futures are up by 4 to 9 3/4 cents. CBT SRW is down 4 to 7 cents so far, and working near the lows for the day. KC HRW prices are trading 3 to 4 1/2 cents weaker at midday.
USDA’s weekly Export Sales data had 233k MT wheat bookings for the week that ended 7/27. That was up 36% for the week, but was 44% below the same week last year. Total wheat commitments were 5.42 MMT – including: 1.46 MMT SRW, 1.15 MMT HRS, 1.1 MMT of HRW, and 1.01 MMT of white.
Day two of the North Dakota Spring Wheat Quality Tour had 36 bpa for the average spring wheat yield.
Russia’s Vladimir Putin announced plans for Russia to supply 25k to 50k MT of grain each (1.5 to 3 MMT total) to 6 African nations for free, including shipping costs.
France’s Agritel estimated a 3% yr/yr increase for wheat output at 34.8 MMT.
USDA’s Ag Attachè estimates India wheat production at 108 MMT, from 104 LY and USDA’s official 113.5 MMT outlook. In Canada, the Attachè expects wheat harvest to total 35.8 MMT, compared to the official 35 MMT forecast and 33.8 MMT last year.
Sep 23 CBOT Wheat is at $7.14 1/4, down 5 3/4 cents,
Dec 23 CBOT Wheat is at $7.36, down 6 1/4 cents,
Cash SRW Wheat is at $6.48 1/4, down 5 3/4 cents,
Sep 23 KCBT Wheat is at $8.65 1/4, down 0 cent,
Cash HRW Wheat is at $8.09, unch,
Sep 23 MGEX Wheat is at $9.03 1/4, up 7 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.
