Wheat Slips on Tuesday, with Spring Wheat Holding Up
The wheat complex was mixed on Tuesday, with the spring wheat market holding up and winter wheats on the weaker side. Chicago SRW contracts was mixed, with front months down 1 to 10 ¼ cents and deferreds fractionally to 2 cents higher. KC HRW futures was the weakest of the wheat markets, with contracts down 5 ¼ to 15 cents at the close. MPLS spring wheat was the firmer of the three exchanges, with contracts fractionally to 1 ¼ cents higher across most months.
This week’s NASS Crop Progress spring wheat conditions 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 closed at $6.64 1/2, down 10 1/4 cents,
Dec 26 CBOT Wheat closed at $6.81 1/4, down 8 cents,
Sep 26 KCBT Wheat closed at $7.43 3/4, down 15 cents,
Dec 26 KCBT Wheat closed at $7.58 1/2, down 13 1/4 cents,
Sep 26 MIAX Wheat closed at $6.76 1/4, up 1 1/4 cents,
Dec 26 MIAX Wheat closed at $7.04 3/4, up 3/4 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.
