Wheat Faces Monday Stress

The wheat advanced was beneath strain on Monday. Chicago SRW futures had been 8 to 9 cents decrease throughout most contracts to begin the week. KC HRW futures had been 6 to 7 cents within the pink on the shut. MPLS spring wheat was down 6 to 7 cents throughout the entrance months on Monday.

This morning’s Export Inspections report confirmed a complete of 488,025 MT (17.93 mbu) of wheat shipped within the week of 12/11. That was 23.2% above the week prior and 61.38% bigger than the identical week final 12 months. the Philippines was as the most important purchaser of 113,367 MT, with 89,044 MT shipped to Mexico and 66,008 MT to South Korea. The advertising and marketing 12 months whole is now 14.124 MMT (425.42 mbu) of wheat shipped, which is now 21.9% above the identical interval final 12 months.

Export Gross sales knowledge for the week ending on November 20 was out this morning, with USDA exhibiting 361,715 MT in that week. That was on the decrease aspect of estimates of 300,000-750,000 MT in wheat gross sales. That was a 5-week low for bookings and barely beneath the identical week final 12 months.

Dedication of Merchants knowledge confirmed spec funds in CBT wheat futures and choices including again 5,055 contracts to their internet quick as of 11/25, taking it to 53,746 contracts. In KC wheat, they elevated their internet quick by 2,125 contracts to 22,064 contracts.

Mar 26 CBOT Wheat  closed at $5.20 3/4, down 8 1/2 cents,

Could 26 CBOT Wheat  closed at $5.29, down 8 1/4 cents,

Mar 26 KCBT Wheat  closed at $5.12, down 6 cents,

Could 26 KCBT Wheat  closed at $5.24 1/4, down 6 1/4 cents,

Mar 26 MGEX Wheat  closed at $5.69 3/4, down 7 cents,

Could 26 MGEX Wheat  closed at $5.78 1/4, down 6 1/4 cents,

On the date of publication, Austin Schroeder didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All data and knowledge on this article is solely for informational functions. This text was initially revealed on Barchart.com