Wheat Losses Continuing at Thursday’s Midday
The wheat complex is down across all three exchanges on Thursday. CBT soft red wheat futures is showing 3 to 4 ½ cent losses. The CBOT showed another 8 deliveries issued for September wheat overnight. KC HRW futures are up 2 cents in thinly traded September but down 5 ¼ cents in the December contract. MPLS spring wheat is steady to 3 ¾ cents lower.
Due to the Monday holiday, the USDA Export Sales report will be delayed until Friday morning.
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Monthly Census data showed a total of 2.305 MMT (84.69 mbu) of wheat exported during July, which was a 34.05% increase month/month and up 22.52% year/year, as well as a 5-year high.
Sep 25 CBOT Wheat is at $4.99 1/2, down 4 1/2 cents,
Dec 25 CBOT Wheat is at $5.18 1/4, down 3 3/4 cents,
Sep 25 KCBT Wheat is at $4.84 3/4, up 2 cents,
Dec 25 KCBT Wheat is at $5.05, down 5 1/4 cents,
Sep 25 MGEX Wheat is at $5.53 1/2, unch,
Dec 25 MGEX Wheat is at $5.69 1/4, down 3 3/4 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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