The wheat complex is showing mixed trade on Tuesday. Chicago SRW is up 3 to 4 cents on the day. KC HRW futures are posting 2 to 4 cent gains at midday. MPLS spring wheat are slipping 3 to 4 cents on Tuesday.
This week’s NASS Crop Progress report showed 27% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 7 percentage points. Emergence was at 8%.
NASS will release their quarterly Grain Stocks data on Wednesday, as a Reuters survey of analysts are looking for September 1 wheat stocks of 1.857 billion bushels. That would be a drop of 277 mbu from a year ago if realized.
A South Korean importer is tendering for 100,000 MT of wheat from the US, with a Wednesday deadline.
EU Wheat exports from July 1 to September 27 are tallied at 6.81 MMT according to EU Commission data, up 0.02 MMT from last year. They also estimate EU wheat stocks up 0.1 MMT to 11.4 MMT, as production was unchanged at 124.2 MMT.
Dec 26 CBOT Wheat is at $6.92 1/2, up 3 3/4 cents,
Mar 27 CBOT Wheat is at $7.06 1/2, up 3 cents,
Dec 26 KCBT Wheat is at $7.42, down 3 3/4 cents,
Mar 27 KCBT Wheat is at $7.55, down 2 3/4 cents,
Dec 26 MIAX Wheat is at $6.98 1/2, down 3 1/4 cents,
Mar 27 MIAX Wheat is at $7.19 1/2, down 3 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.
