IKAR in Mass and Industry Media

Mixed Midday In Wheat Market

barchart.com

Wheat futures on the Chicago board are up by 3 to 4 cents so far. KC wheat is in the red with midday weakness of as much as 4 cents. MPLS is also lower so far, giving back 2 3/4 to 4 1/4 cents.

Mixed Midday In Wheat Market

Weekly Crop Progress data from NASS had 87% of the 23/24 winter wheat crop planted. That was up 8% points through the week and is 2% points ahead of the average pace. Emergence reached 62% as of 10/30, compared to 66% on average. That was enough for the first preliminary ratings – at 281 on the Brugler500 Index. Last year’s rating was 322 on the Brugler500, as 281 is the lowest initial score since 1987.

IKAR estimated the Russian 22/23 wheat crop at 101 MMT with 50 MMT of exportable supply.

Buenos Aries Grains Exchange left their Argentine wheat forecast for 22/23 wheat at 15.2 MMT.

Dec 22 CBOT Wheat is at $8.91 1/4, up 9 cents,
Mar 23 CBOT Wheat is at $9.07 3/4, up 8 1/2 cents,
Cash SRW Wheat is at $8.24 3/8, up 9 1/4 cents,
Dec 22 KCBT Wheat is at $9.80 1/4, up 1 1/2 cents,
Cash HRW Wheat is at $9.39 1/8, up 2 1/4 cents,
Dec 22 MGEX Wheat is at $9.80 1/2, down 3/4 cent,

https://barchart.com/story/news/11231418/mixed-midday-in-wheat-market

02.11.22

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