Wheat Closes Monday Mixed, with Spring Wheat Strength

The wheat complex posted mixed Monday action, with the winter wheat leading the charge lower and spring wheat holding up. Chicago SRW futures were 4 to5 cents in the red on Monday. KC HRW futures were down 3 to 4 cents. MPLS spring wheat futures were steady to 3 cents in the green on the day. 

Winter wheat crop planting was tallied at 97% as of Sunday, matching the average pace, with emergence at 87% and 2 points behind average. The last Crop Progress report for the year showed 48% of the US crop at good/excellent, 3 points ahead of last we but 7 points below last year. 

This morning’s Export Inspections report showed a total of 474,53 MT (17.44 mbu) of wheat shipped in the week of 11/20. That was 92.48% above the week prior and 29.68% larger than the same week last year. The Philippines was the largest buyer of 88,074 MT, with 56,890 MT shipped to Bangladesh and 55,778 MT to Mexico. The marketing year total is now 12.84 MMT (471.7 mbu) of wheat shipped, which is now 19.65% above the same period last year.

Delayed Export Sales data from the week of 10/9 is expected to show a total of 350,000 to 650,000 MT of corn sold in that week.

Dec 25 CBOT Wheat  closed at $5.22 1/4, down 4 3/4 cents,

Mar 26 CBOT Wheat  closed at $5.34 3/4, down 5 cents,

Dec 25 KCBT Wheat  closed at $5.07 1/4, down 3 3/4 cents,

Mar 26 KCBT Wheat  closed at $5.22 1/2, down 3 3/4 cents,

Dec 25 MGEX Wheat  closed at $5.68 3/4, up 2 3/4 cents,

Mar 26 MGEX Wheat  closed at $5.76, up 3/4 cent,

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