The wheat complex is mixed to mostly lower on Monday’s midday. CBT futures are mixed within a penny of unchanged so far. Kansas City HRW contracts are fractionally in the red so far on Monday. MPLS spring wheat is down fractionally to 2 cents at midday.
This morning’s Export Inspections report showed a total of 599,595 (22.03 mbu) of wheat shipped in the week of 7/31. That is more than double the previous week and 27.18% above the same week in 2024. The Philippines was the top destination of 118,438 MT, with 85,951 MT headed to Nigeria, and 78,224 MT on its way to Mexico. Marketing year shipments are now at 3.911 MMT (143.7 mbu), which is 8.75% above the same period last year.
The quarterly Flour Milling report from USDA showed April – June wheat ground for flour totaling 222.94 mbu of wheat. That was 3.7 mbu below the previous quarter and 3 mbu shy of the same quarter last year.
Commitment of Traders data indicated a total of 13,283 contracts added to the spec fund net short position in CBT wheat as of Tuesday, taking it to 65,324 contracts net short by Tuesday. In KC wheat, they added another 3,321 contracts to their net short of 47,280 contracts on July 29.
Sep 25 CBOT Wheat is at $5.16 1/2, down 1/4 cent,
Dec 25 CBOT Wheat is at $5.37 1/4, up 1/4 cent,
Sep 25 KCBT Wheat is at $5.18, down 3/4 cent,
Dec 25 KCBT Wheat is at $5.38, down 1/2 cent,
Sep 25 MGEX Wheat is at $5.72, down 1/4 cent,
Dec 25 MGEX Wheat is at $5.95, down 1 3/4 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.
