The wheat complex saw mixed action on Monday, with the KC market the weak link. CBT soft red wheat futures were 2 to 3 cents higher to close out the Monday session. KC HRW futures slipped back to close with fractional to 1 ¼ cent losses. MPLS spring wheat closed Monday with 2 to 2 ½ cent gains.
The weekly NASS Crop Progress report showed the winter wheat harvest at 98% complete. The spring wheat crop was 53% harvested, behind the 54% average. The final condition rating for the year saw 49% of the crop in good/excellent categories, down 1%, as the Brugler500 index was steady at 333.
USDA tallied wheat export shipments at a multi-year high 946,240 MT (34.77 mbu) during the week ending on August 21. That was more than double last week and 71.35% above the same week last year. Of that total, 150,716,265 MT was headed to Indonesia, with 146,660 MT on its way to the Philippines and 142,969 MT to South Korea. Marketing year exports have totaled 5.763 MMT (211.75 mbu), which is 10.99% above the same period last year.
Sep 25 CBOT Wheat closed at $5.06 3/4, up 2 cents,
Dec 25 CBOT Wheat closed at $5.29 3/4, up 2 1/2 cents,
Sep 25 KCBT Wheat closed at $4.96 3/4, down 1 1/4 cents,
Dec 25 KCBT Wheat closed at $5.20 3/4, down 1/4 cent,
Sep 25 MGEX Wheat closed at $5.72 1/2, up 2 cents,
Dec 25 MGEX Wheat closed at $5.93 1/2, up 2 1/2 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.
