Wheat Slipping Lower into Tuesday’s Midday
Wheat is trading with mostly lower action on Tuesday. Chicago SRW contracts are 5 to 8 cents in the red so far on the session. KC HRW futures are down 9 to 10 ½ cents in the front months. MPLS spring wheat is showing fractionally mixed trade at midday.
This week’s NASS Crop Progress report showed 96% of the US winter wheat crop harvested by Sunday, 2% ahead of the normal pace. The spring wheat crop was 41% harvested, ahead of the 34% 5-year average pace. Spring wheat conditions were up 1% at 52% gd/ex, with the Brugler500 index back up 5 points to 344. The only states with dropping conditions were MT (-3) and WA (-5), with ID (+8), ND (+5), MN (+4) seeing improvement.
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EU soft wheat exports since July 1 have totaled 1.48 MMT to 8/16 according to the European Commission, which is lagging the 2.9 MMT total in the same period last year.
Sep 26 CBOT Wheat is at $6.66 3/4, down 8 cents,
Dec 26 CBOT Wheat is at $6.83 1/2, down 5 3/4 cents,
Sep 26 KCBT Wheat is at $7.48 1/4, down 10 1/2 cents,
Dec 26 KCBT Wheat is at $7.62 3/4, down 9 cents,
Sep 26 MIAX Wheat is at $6.75 1/2, up 1/2 cent,
Dec 26 MIAX Wheat is at $7.02 1/2, down 1/2 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.
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