Wheat Closes Lower on Monday
The wheat complex continued to slide lower on Monday, with the three exchanges posted losses. CBT soft red wheat futures were 10 to 12 cents in the red on Monday. KC HRW futures posted 4 to 6 cent losses at the close. MPLS spring wheat futures were down 2 to 4 cents on the day.
Crop Progress data showed the US winter wheat crop at 20% planted, down 3 points from average. Emergence was listed at 4%, on par with average. Spring wheat was 96% harvested and matches the 5-year average pace.
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This morning’s Export Inspections report showed a total of 854,454 MT (31.4 mbu) of wheat shipped in the week of 9/18. That was 12.96% above the week prior and 17.92% larger than same week last year. The Philippines were the largest buyer of 131,998 MT, with 117,247 MT shipped to Mexico and 67,340 MT to Vietnam. The marketing year total is now at 8.711 MMT (320 mbu) shipped, which is 12.66% above the same period last year.
Dec 25 CBOT Wheat closed at $5.10 3/4, down 11 3/4 cents,
Mar 26 CBOT Wheat closed at $5.29 1/2, down 11 1/4 cents,
Dec 25 KCBT Wheat closed at $5.02 1/4, down 5 cents,
Mar 26 KCBT Wheat closed at $5.23 3/4, down 5 1/2 cents,
Dec 25 MGEX Wheat closed at $5.64, down 3 1/2 cents,
Mar 26 MGEX Wheat closed at $5.85 1/2, down 3 1/2 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.
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