Wheat Extend Strength to Tuesday
The wheat complex posted gains across the three exchanges at the Tuesday close. Chicago SRW contracts were up 4 1/4 to 9 3/4 cents on the day. KC HRW futures were 7 1/2 to 11 3/4 cents higher at the close. MPLS spring wheat were 4 to 5 ¾ cents higher to round out Tuesday trade. July futures expired on Tuesday.
NASS Crop Progress data showed 67% of the US winter wheat crop harvested by Sunday, 6% ahead of normal. The spring wheat crop was 72% headed, in line with the 5-year average pace. Spring wheat conditions were 58% gd/ex, up 1%, with the Brugler500 index 3 points lower to 351. Ratings in MT were back down 18 points, with ID and SD slipping 7. Improvement was noted in MN (+8) and ND (+6).
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EU Wheat exports in the first 12 days of July have totaled 214,904 MT according to EU Commission data, down from 260,897 MT last year. Russian exports through the Kerch Strait are still limited following last week’s report of restrictions.
Sep 26 CBOT Wheat closed at $6.45, up 9 3/4 cents,
Dec 26 CBOT Wheat closed at $6.59 3/4, up 9 1/4 cents,
Sep 26 KCBT Wheat closed at $6.78, up 11 3/4 cents,
Dec 26 KCBT Wheat closed at $6.92 1/2, up 11 1/4 cents,
Sep 26 MIAX Wheat closed at $6.58, up 4 3/4 cents,
Dec 26 MIAX Wheat closed at $6.78 1/4, up 4 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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