Wheat Mixed on Monday Morning

AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Stocks Wheat Mixed on Monday Morning July 22, 2024 — 10:04 am EDT Written by Alan Brugler for Barchart-> Wheat is trading with mixed action on your Monday morning, as spring wheat is continuing to lead the bull charge. Futures were swimming against the bearish tide on Friday, or perhaps unwinding some inter-market spreads. In any event, all three US markets were higher. Chicago futures settled 5 to 8 cents higher. Kansas City contracts were up 5 ¼ to 7 ¾ for the day. MPLS spring wheat continued its mini-rally, up 8 ¾ to 9 ¼ on the day. FranceAgriMer estimates the French soft wheat crop at 52% gd/ex, a 5% drop from the week prior. Last year was 80%. The crop is now 14% harvested, compared to 51% last year and an average at 43%.

The Russian Ag Ministry is working hard to push export sales right now, cutting the export tax to 1,540.40 rubles (about 13.5%) and effective through July 31. IKAR is expecting Russian wheat exports to slow to 55 MMT, but the effects of smaller production on exports are more likely to be observed in the second half of the marketing year after the big piles (figurative) are gone. The Friday afternoon Commitment of Traders report from CFTC showed the managed money spec funds drifting more bearish during the week, adding 6,749 contracts to their Chicago net short and 3,085 contracts to their net short in KC HRW futures during the week ending July 16. Sep 24 CBOT Wheat closed at $5.42 3/4, up 7 1/2 cents, currently up 1 ½ centsDec 24 CBOT Wheat closed at $5.68, up 8 cents, currently up 1 ¼ centsSep 24 KCBT Wheat closed at $5.70, up 7 1/4 cents, currently down ¼ centsDec 24 KCBT Wheat closed at $5.86 3/4, up 7 3/4 cents, currently down ½ centsSep 24 MGEX Wheat closed at $6.09 3/4, up 9 1/4 cents, currently up 4 ¾ centsDec 24 MGEX Wheat closed at $6.29 1/2, up 9 1/4 cents, currently up 3 ¼ centsOn the date of publication, Alan Brugler 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. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags Stocks Barchart With headquarters in the heart of Chicago's financial district, Barchart has been an industry-leader since 1995 when we launched Barchart.com as one of the first websites for commodities and futures market data. Since then, we have evolved into a global financial technology leader providing market data and services to the global financial, media, and commodity industries. More articles by this source-> More Related Articles This data feed is not available at this time. Data is currently not available • Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.