The wheat complex is posting mixed trade on Monday. Chicago SRW futures are down 1 to 2 cents so far on the session. KC HRW contracts are up 1 to 2 cents across the front months. MPLS spring wheat is up fractionally to 2 ½ cents.
Export Inspections data showed just 193,523 MT (7.1 mbu) of wheat shipped in the week of 10/31. That was down 34.33% from last week, but up 69.28% above the same week last year. Marketing year shipments have totaled 9.75 MMT (358.29 mbu), which is up 34.74 MMT from the same time period last year.
Widespread heavy precip totals fell over the weekend in parts of the Southern Plains, from the TX panhandle through eastern KS, MO and parts of IA/WI.
Friday afternoon’s CFTC Commitment of Traders report tallied spec funds in Chicago wheat at a net short of 31,172 contracts by October 29. That was a 2,257 contract increase on the week. In KC wheat, they were adding 3,513 contracts to their net short at 9,160 contracts as of Tuesday.
Egypt’s GASC issued a tender for wheat over the weekend, with a Monday deadline and no US offers.
Dec 24 CBOT Wheat is at $5.66 1/4, down 1 3/4 cents,
Mar 25 CBOT Wheat is at $5.85 1/2, down 2 1/4 cents,
Dec 24 KCBT Wheat is at $5.68, up 1 1/4 cents,
Mar 25 KCBT Wheat is at $5.81 1/4, up 1 cent,
Dec 24 MGEX Wheat is at $6.02 1/4, up 2 1/2 cents,
Mar 25 MGEX Wheat is at $6.23 1/2, up 1/4 cent,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
