The wheat market is down across the three markets on Tuesday. CBT soft red wheat futures are 2 to 3 cents in the red at midday. KC HRW futures are continuing with losses at midday, with 2 to 3 ½ cent losses. MPLS spring wheat futures are down 2 to 3 cents across the nearbys on Tuesday.
Algeria is tendering for 50,000 MT of soft wheat, with a deadline of Wednesday on offers. IKAR estimated the Russian wheat crop at 88 MMT, a 0.5 MMT increase from their prior number. Ukraine’s ag ministry estimates the country’s winter wheat crop at 74% planted. The European Commission estimates the country’s wheat exports at 5.87 MMT as of October 19 since July 1, which is 1.58 MMT below the same week last year
Dec 25 CBOT Wheat is at $5.02 1/4, down 2 1/2 cents,
Mar 26 CBOT Wheat is at $5.18 3/4, down 2 3/4 cents,
Dec 25 KCBT Wheat is at $4.86 1/2, down 3 1/2 cents,
Mar 26 KCBT Wheat is at $5.06 3/4, down 2 3/4 cents,
Dec 25 MGEX Wheat is at $5.46 1/4, down 2 1/4 cents,
Mar 26 MGEX Wheat is at $5.66 1/4, down 2 1/4 cents,
