The wheat complex closed Tuesday with mixed action across the three exchanges. Chicago SRW futures saw slight gains, fractionally to 2 ¼ cents higher. KC HRW futures were down 1 to 3 cents at the close. MPLS spring wheat futures were up 6 to 9 cents in the nearby contracts to lead the bulls.
USDA released their Crop Progress report this morning showing the winter wheat crop at 92% planted, lagging the 95% average pace. Emergence was at 79%, behind the 84% 5-year average. Condition ratings were pegged at 45% in good/excellent ratings, which was down from 49% last year. That equated to 328 on the Brugler500 index, down from 338 a year ago.
EU exports have totaled 9.05 MT since July 1 to November 16, now catching on last year and lagging by just 0.04 MMT vs. the same period.
Dec 25 CBOT Wheat closed at $5.46 1/2, up 2 1/4 cents,
Mar 26 CBOT Wheat closed at $5.59, up 1/2 cent,
Dec 25 KCBT Wheat closed at $5.26 1/4, down 2 1/2 cents,
Mar 26 KCBT Wheat closed at $5.43, down 1 3/4 cents,
Dec 25 MGEX Wheat closed at $5.83 3/4, up 9 cents,
Mar 26 MGEX Wheat closed at $5.88, up 6 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.
