The wheat mix has been mixed so far on Tuesday. Chicago SRW contracts are mixed, with contracts down 1 to 2 cents more. There were 3 deliveries versus Chicago wheat overnight, with 1 delivery versus July Casey wheat. Casey HRW futures are down 3 to 4 cents at noon. MPLS spring wheat is mostly fractionally less than a penny.
NASS crop progress data showed that 59% of the U.S. winter wheat crop was harvested as of Sunday, which is 8% more than normal. Conditions were stable at 26% GD/X, with the Brugler500 index up 1 point at 262. This was the final rating for the crop. The average of major HRW states was 209, the average of SRW states was 360.
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The spring wheat crop was 54% ahead, in line with the 5-year average pace. Spring wheat positions were 57% GD/ex, down 2%, with the Brugler500 index down 1 point at 354. Ratings in MT were up 16 points, SD was up 2. Declines were observed in ID (-11), Nd (-13), and Mn (-6).
The CFTC’s Delayed Commitment of Traders report shows that short positions in CBT wheat were managed by 2,176 contracts from their net shorts as of last Tuesday, bringing the total to 69,030 contracts. In Casey Wheat, specialized traders were returning to a net position of 6,910 contracts, an increase of 8,195 contracts on the week.
July 26 CBOT Wheat $6.05 is at 1/4, down 3/4 cents,
26 September CBOT Wheat $6.14 is at 1/2, up 1/2 cents,
26th July KCBT Wheat $6.39 is at 1/2, up 1 cent,
26 September KCBT Wheat $6.45 is at 3/4, down 4 cents,
26th July Mix Wheat is at $5.91 1/2, up 1 1/2 cents,
September 26 Mix Wheat $6.28 is at 1/2, down 1 cent,
On the date of publication, Austin Schroeder did not have (directly or indirectly) any positions in any securities mentioned in this article. All information and data in this article is for informational purposes only. Please see the Barchart Disclosure Policy here for more information.
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