The wheat complex is up across all three markets on Monday. CBT soft red wheat futures are up 2 to 3 ¼ cents across the front months. KC HRW futures are showing strength of fractional to 2 cents at midday. MPLS spring wheat is trading with 1 to 2 ¼ cent gains.
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.
Weekly CFTC data showed spec traders in Chicago wheat increasing their bearish position by 8,837 contracts to a net short of 98,132 contracts by Tuesday. In KC wheat, managed money added 825 contracts to their net short to 51,380 contracts as of August 19.
Sep 25 CBOT Wheat is at $5.06 3/4, up 2 cents,
Dec 25 CBOT Wheat is at $5.30 1/2, up 3 1/4 cents,
Sep 25 KCBT Wheat is at $4.98 1/4, up 1/4 cent,
Dec 25 KCBT Wheat is at $5.22 1/4, up 1 1/4 cents,
Sep 25 MGEX Wheat is at $5.71 1/4, up 1 3/4 cents,
Dec 25 MGEX Wheat is at $5.92 1/4, up 2 1/4 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.
