Front month wheat futures are working ~20 cents off their lows but still in the red through midday. CBT SRW futures are down by 2 3/4 to 5 cents. KC HRW prices are trading 4 1/4 to 9 1/4 cents lower at midday. Front month spring wheat futures are 10 1/4 to 15 3/4 cents weaker so far.
USDA’s Ag Attachè estimated Turkey’s wheat production at 18.5 MMT. The European Commission lowered their outlook for EU wheat production by 2.5 MMT to 126.4 MMT.
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, setting total wheat commitments at 5.42 MMT
The North Dakota Spring Wheat Quality Tour put final average yield at 47.4 bpa, just slightly above the USDA July number.
Sep 23 CBOT Wheat is at $7.08 3/4, down 4 cents,
Dec 23 CBOT Wheat is at $7.31 3/4, down 3 3/4 cents,
Cash SRW Wheat is at $6.42 1/1, down 4 cents,
Sep 23 KCBT Wheat is at $8.59 1/2, down 7 cents,
Cash HRW Wheat is at $8.03 7/8, down 7 1/8 cents,
Sep 23 MGEX Wheat is at $8.95 1/4, down 9 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.
