Wheat Showing Midday Losses

The wheat complex is posting another round of losses across the three exchanges on Tuesday. Chicago SRW futures are down 5 to 7 cents on the day. KC HRW contracts re 6 to 7 cents lower. MPLS spring wheat is falling another 7 to 9 cents. 

A private export sale of 120,000 MT of SRW wheat was reported to Mexico this morning for 2024/25 delivery.

The weekly Export Inspections report from the FGIS totaled 371,004 MT (13.63 mbu) of wheat shipped in the week ending on October 10. Of that total 86,158 MT was headed to Mexico, with 60,290 MT shipped to Japan. Marketing year sales have totaled 8.98 MMT (330 mbu) so far in the marketing year, which is 33% above the same period last year.

Crop Progress data is estimated to have winter wheat planting at 66% complete as of October 13.

The French soft wheat crop is estimated at 25.43 MMT according to the country’s farm ministry, a drop of 1.35 MMT from their previous month

Dec 24 CBOT Wheat  is at $5.79 1/2, down 5 3/4 cents,

Mar 25 CBOT Wheat  is at $6.00 1/2, down 6 3/4 cents,

Dec 24 KCBT Wheat  is at $5.83 1/4, down 6 3/4 cents,

Mar 25 KCBT Wheat  is at $5.99, down 7 cents,

Dec 24 MGEX Wheat  is at $6.18, down 8 1/2 cents,

Mar 25 MGEX Wheat  is at $6.40, down 7 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.