Wheat is fading off the early Turnaround Tuesday bounce, with the three exchanges back near unch at midday. Chicago SRW futures are down 1 to 2 cents in the nearbys. KC HRW contracts are steady to 3 cents lower on the session. MPLS spring wheat is down 4 to fractionally higher in other contracts.
The US winter wheat crop was tallied at 97% planted as of 11/24 according to the final NASS Crop Progress report of the season, with emergence at 89%. Conditions were reported at 55% good to excellent, up 6% from last week. The Brugler500 index was up 10 points to 348, and a 35 points improvement since the initial rating 5 weeks ago. While the national reports are done, some individual state reports will be released throughout the winter.
A South Korean importer purchased 50,000 MT of US wheat in a tender on Tuesday. The EU has exported 9.15 MMT of soft wheat from the first of July through November 24 according to the European Commission. That is well below the 13.08 MMT from the same point last year.
Dec 24 CBOT Wheat is at $5.34 3/4, down 1 cent,
Mar 25 CBOT Wheat is at $5.54, down 1 3/4 cents,
Dec 24 KCBT Wheat is at $5.46 1/2, unch,
Mar 25 KCBT Wheat is at $5.54 1/4, down 2 3/4 cents,
Dec 24 MGEX Wheat is at $5.77, down 4 cents,
Mar 25 MGEX Wheat is at $5.97, up 1/2 cent,
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. More news from BarchartThe views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
