Wheat Futures Closed Mostly Higher
Chicago wheat prices ended the session near the high with 9 to 9 ½ cents. KC also ended in the black with 2 ¾ to 3 ¼ cent gains on Monday. Spring wheat prices were fractionally higher to 1 ½ cents in the red.
NASS reported winter wheat planting pace at 26% finished as of 9/24. That was 11% points further along for the week, but remains 3% points behind the average. KS planting was 10 ppts further along to 18% planted – compared to 37% on average. The weekly update showed 7% was emerged which is 1 ppt ahead of average. Spring wheat harvest advanced 3% points to 96% complete. That matches the average pace.
USDA’s weekly Export Inspections data had 4551k MT of wheat exports for the week that ended 9/21. That was up 30k MT for the week but was less than the 589k MT shipped during the same week last year. HRS had over 240k MT of the total. The season’s accumulated export reached 5.63 MMT, trailing last year’s pace by 2.2 MMT.
Ukraine’s Ag Ministry had 1.57 MMT of grain shipments for the month of Sep thus far. That trails last year’s 3.2 MMT pace.
Dec 23 CBOT Wheat closed at $5.89, up 9 1/2 cents,
Mar 24 CBOT Wheat closed at $6.15 1/2, up 9 cents,
Cash SRW Wheat was $5.02 7/8, up 9 5/8 cents,
Dec 23 KCBT Wheat closed at $7.14 1/2, up 3 1/4 cents,
Cash HRW Wheat was $6.43 3/4, up 3 1/4 cents,
Dec 23 MGEX Wheat closed at $7.69, down 1 1/2 cents,
On the date of publication, Alan Brugler 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.