The wheat complex posted gains across the three exchanges at the Tuesday close. Chicago SRW contracts rose 4 1/4 to 9 3/4 cents on the day. KC HRW futures increased 7 1/2 to 11 3/4 cents, while MPLS spring wheat climbed 4 to 5 ¾ cents, rounding out Tuesday’s trade. July futures expired on Tuesday.
NASS Crop Progress data indicated that 67% of the U.S. winter wheat crop was harvested by Sunday, 6% above the normal pace. Spring wheat was 72% headed, matching the 5-year average. Conditions were rated 58% good/ex, up 1%, with the Brugler500 index down 3 points to 351. Montana ratings fell 18 points, Idaho and South Dakota slipped 7 points each; Minnesota improved by 8 points and North Dakota by 6 points.
EU wheat exports in the first 12 days of July totaled 214,904 metric tons according to EU Commission data, down from 260,897 metric tons a year earlier. Russian shipments through the Kerch Strait remain constrained following last week’s report of restrictions.
Sep 26 CBOT Wheat closed at $6.45, up 9 3/4 cents; Dec 26 CBOT Wheat closed at $6.59 3/4, up 9 1/4 cents; Sep 26 KCBT Wheat closed at $6.78, up 11 3/4 cents; Dec 26 KCBT Wheat closed at $6.92 1/2, up 11 1/4 cents; Sep 26 MIAX Wheat closed at $6.58, up 4 3/4 cents; Dec 26 MIAX Wheat closed at $6.78 1/4, up 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.
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