Wheat Postings Midday Losses on Thursday

The wheat complex is trading with losses across the board at Thursday’s midday, though pulling off lows. Chicago SRW contracts are down 25 to 27 cents at midday, but bulls have battled back from early near limit losses. There were another 19 deliveries overnight against Sep CBT wheat. KC HRW futures are 20 to 23 cents lower. MPLS spring wheat is down 15 to 18 cents on the session. 

Early this morning Russia’s President Putin stated there was a chance of the peace deal with Ukraine. 

Export Sales data from this morning showed 313,516 MT of wheat sales in the week of August 27, coming in below trade ideas of between 350,000 and 600,000 MT. That was a 3-week low, but up 0.17% from the same week last year. 

Monthly Census data from this morning showed 1.648 MMT (60.55 mbu) of wheat shipped in July, which was down 27.46% yr/yr and a 4 year low.

Saudi Arabia issued a tender for 535,000 MT of wheat overnight, with a deadline for Friday. 

Sep 26 CBOT Wheat  is at $7.28 1/2, down 26 1/4 cents,

Dec 26 CBOT Wheat  is at $7.47 1/2, down 26 1/2 cents,

Sep 26 KCBT Wheat  is at $8.03, down 11 3/4 cents,

Dec 26 KCBT Wheat  is at $8.11 3/4, down 22 1/2 cents,

Sep 26 MIAX Wheat  is at $7.44, down 15 3/4 cents,

Dec 26 MIAX Wheat  is at $7.64 1/2, down 17 1/2 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.