The wheat complex is mixed on Monday. Chicago SRW futures are steady to fractionally higher across most contracts at midday. KC contracts are fractionally higher in the nearbys on Monday. MPLS spring wheat is down 2 to 3 cents across most contracts at midday
Export Inspections data showed 288,793 MT (10.61 mbu) of wheat shipped in the week that ended on July 24, which was up less than half of the week prior and still down 38.33% from the same week last year. Nigeria was the top destination of 55,377 MT, with 51,159 MT headed to Japan and 47,409 MT to Mexico. Marketing year shipments have totaled 3.31 MMT (17.21 mbu) since June 1, 5.92% larger yr/yr.
Friday afternoon’s Commitment of Traders report showed a total of 8,446 contracts trimmed from the spec fund net short position in CBT wheat futures and options as of July 22 to 52,041 contracts. In KC wheat, managed money was net short 43,959 contracts, a reduction of 4,043 contracts on the week.
Sep 25 CBOT Wheat is at $5.38 1/4, unch,
Dec 25 CBOT Wheat is at $5.58 1/2, up 1/4 cent,
Sep 25 KCBT Wheat is at $5.27 1/4, up 3/4 cent,
Dec 25 KCBT Wheat is at $5.48, up 1/4 cent,
Sep 25 MGEX Wheat is at $5.81 3/4, down 3 cents,
Dec 25 MGEX Wheat is at $6.03 3/4, down 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.
