Wheat failed to buy late in Monday session, as the contracts fell by double points in all three markets. CBT wheat was 14 to 15 cents below. The KC HRW contract was 13 to 14 cents in red color. MPLS Spring Wheat was below 11 to 13 cents.
This morning’s export inspection report shown a total of 254,782 mounts of wheat in a week of 6/19. It is 34.44% from last week and 26.08% in 2024 from the same week. Japan was a top destination of 80,169 metric tops, leading to 65,970 tonnes of Mexico. Marketing year shipment is now on 844,686 mount, which is 19.82% less than the same short term last year.
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Winter wheat was shown to 96% by June 15 after the progress of the weekly crop from USDA. Harvest has slowed down, as Sunday is completed from 9 points to 19% behind the average of 28% average. NASS rated the situation at 49% good/excellent 49% below last week. This is equal to 4 point drops for 33 points on the Brugler500 index. The spring wheat crop moved towards 17% on Sunday, which lagged behind at an average speed of 18%. The condition for the crop was excellent from 3 percent to 54%. It was 11 points on the Brugler500 index by 341.
Delay in reporting traders from CFTC showed traders of Chicago wheat imaginations as last Tuesday, showing their large net short status from 12,658 contracts for the net shortage of 81,353 contracts as last Tuesday. As of June 17, the Cansus City wheat speculators covered 12,813 contracts of their large small short status for 62,151 contracts.
Russia’s wheat crop is expected to be 84.8 mm this year, according to Argus, up to 4.5 mm from their previous estimate.
Jul 25 cbot wheat Closed at $ 5.52 3/4, 15 cents below,
25 September cbot wheat Closed at $ 5.69 1/2, 14 cents below,
July 25 KCBT Wheat Closed at $ 5.50, 13 1/4 cents,
25 September KCBT Wheat Closed at $ 5.65, 13 3/4 cents,
Jul 25 mgex wheat Closed at $ 6.26 3/4, 12 cents below,
September 25 Magex Wheat Closed at $ 6.45 1/4, 11 1/2 cents below,
On the date of publication,
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