IKAR in Mass and Industry Media

Wheats Staying Black On Lower Corn And Beans

barchart.com

Midday wheat prices are holding gains despite a market correction in the corn and soy futures. CBT SRW is up 1 3/4 to 5 1/2 cents so far. KC wheat is leading the charge with 10+ cent gains. Spring wheat futures are up 5 3/4 to 7 1/2 cents through midday. May options expire at the close for all three classes.

Wheats Staying Black On Lower Corn And Beans

Planalytics forecasts the U.S. winter wheat yield would be 49.5 bpa with their early outlook. They had the national yield at 49.2 bpa previously, with KS up 0.3 to 44.4 bpa.

The Buenos Aires Grains Exchange estimates Argentina will plant 6.5m HA of wheat in 22/23. That would be down 3% from the current season.

Ikar and SovEcon both upped their old crop production estimates for Russian wheat to 87.4 MMT and 83.5 MMT respectively. That was a 500k and 900k MT boost from their prior estimates respectively. Russia’s Ag Minister reported 3.5m HA of spring grains had been planted so far, up form last year’s 3.1m HA pace. Their preliminary estimates are for 53.6m HA and 123 MMT of spring grain output. SovEcon foresees NMY wheat shipments being 41 MMT from

International Grains Council forecasted their 22/23 wheat output to be 780 MMT, down 1 yr/yr. Their preliminary outlook for Ukraine is to see 19.4 MMT of wheat, down from 33 MMT citing the war.

May 22 CBOT Wheat is at $10.67 1/4, down 3/4 cent,
Cash SRW Wheat is at $10.12 3/4, down 1/8 cent,
May 22 KCBT Wheat is at $11.42, up 4 1/4 cents,
Cash HRW Wheat is at $10.97 3/8, up 3 3/4 cents,
May 22 MGEX Wheat is at $11.56 1/2, up 5 cents,

https://barchart.com/story/news/8050670/wheats-staying-black-on-lower-corn-and-beans

26.04.22

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